Accolade (NASDAQ:NCNO) Releases Earnings Results, Beats Estimates By $0.04 EPS

Accolade (NASDAQ:NCNO) posted its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04, Briefing.com reports. The firm had revenue of $48.77 million during the quarter, compared to analysts’ expectations of $45.20 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Accolade’s revenue for the quarter was up 52.5% compared to the same quarter last year.

Shares of NASDAQ:NCNO opened at $84.20 on Friday. Accolade has a 52-week low of $66.82 and a 52-week high of $103.95. The stock has a 50 day moving average price of $80.70.

In related news, insider Gregory Orenstein purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 16th. The shares were bought at an average price of $31.00 per share, for a total transaction of $31,000.00. Also, Director Steven A. Collins purchased 32,250 shares of the business’s stock in a transaction that occurred on Thursday, July 16th. The stock was bought at an average price of $31.00 per share, for a total transaction of $999,750.00.

A number of research firms have recently issued reports on NCNO. Macquarie started coverage on Accolade in a report on Monday, August 10th. They issued an “outperform” rating for the company. Truist Financial started coverage on Accolade in a research note on Monday, August 10th. They issued a “buy” rating for the company. Piper Sandler boosted their target price on Accolade from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp started coverage on Accolade in a research note on Monday, August 10th. They issued an “overweight” rating and a $90.00 target price for the company. Finally, Truist upped their price target on Accolade from $90.00 to $95.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $93.83.

Accolade Company Profile

nCino, Inc, a software- as- a- service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its operating system offers customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting solutions.

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