Small-cap cloud banking platform NCino was up more than 2% Thursday afternoon, on track for a 15% surge for the week. Additionally, NCino stock got a 15-point upgrade for its Relative Strength (RS) Rating on Thursday, with an increase from 70 to 85, pushing it into a higher performance group.
Market research reveals that the best stocks tend to have an 80 or higher RS Rating as they launch their biggest price moves. Its 85 RS Rating means NCino stock tops all but 15% of all stocks for price performance, and it puts it in that exclusive group of stocks primed for big price moves.
NCino Stock Surges On Rising Sales To 1,850 Banking Institutions
The cloud banking company counts among its customers Navy Federal Credit Union, Santander, US Bank, Great Southern Bank and others among the 1,850 financial institutions that use its platform.
NCino bravely launched its IPO in July 2020 in the early part of the pandemic, and closed at 91.59 on July 14 of that year. Its stock drifted down over the next year and a half until it bottomed at an intraday low 19.58 in mid-March this year. From there it's made a sharp upward turn and traded at 32.98 Thursday afternoon, up 68% in just five months.
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NCino stock is working on a consolidation pattern with a 33.63 entry. See if the stock can break out in heavy volume.
Sharp Reversal From Losses A Year Earlier
The company reported 9 cents EPS in the latest quarter, reversing from a 4-cents per share loss a year ago.
That is ostensibly a 325% increase. The prior three stanzas it recorded similar results, reversing from a loss a year earlier to a small EPS gain. Sales grew 18% to $117.2 million las quarter, its smallest gain in a year following rises of 50%, 46% and 21%.
NCino stock earns the No. 5 rank among its peers in the 42-stock Computer Software-Financial industry group. Intuit and Vertex are also among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, relative price strength vs other stocks is an indicator to keep an eye on.
IBD's proprietary Relative Strength Rating tracks share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
