nCino's Stock Drops Despite Strong Earnings

nCinos stock dropped by 3.5% despite better-than-expected earnings and raised outlook, due to analysts lowering price targets. The company reported earnings of 31 cents per share, beating estimates, and sales of $152.2 million, also exceeding predictions. Despite increasing its full-year operating income forecast, the stock fell, likely influenced by analyst actions like Piper Sandler and Truist Financial lowering their price targets. Keefe, Bruyette and Woods raised its target, but the negative sentiment from other downgrades prevailed. The stock is down nearly 30% this year, trading below its December peak, and investments made five years ago would now be worth less.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.