nCino slides after unchanged annual revenue forecast

nCino

28/08/2024 10:42

** Shares of banking software platform nCino  NCNO.O  fall
12.6% to $30.18 premarket
    ** After market close on Tuesday, NCNO maintained its annual
revenue outlook of between $538.5 mln and $544.5 mln
    ** Wall Street expects annual revenue of $541.7 mln - LSEG
data
    ** KBW says the unchanged annual revenue forecast may come
as a disappointment as bulls were hopeful for an increase in the
outlook       
    ** Raymond James echoes the sentiment, adding that investors
will be disappointed with the lack of a raise to annual revenue
outlook for two consecutive quarters
    ** Meanwhile, NCNO forecast Q3 revenue between $136 mln and
$138 mln, compared with analysts' expectation of $138.2 mln 
    ** As of last close, NCNO shares up 2.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))