Americas Small Cap Research Summary

This Barclays summary covers quarterly reviews for Capri Holdings Limited and nCino, Inc., noting earnings beats and raised guidance for both companies.

Key Takeaways

• 1.Capri Holdings Limited (CPRI) reported an EPS beat for FY4Q26, largely driven by a tariff refund receivable, leading to a guidance raise for EBIT and EPS.
• 2.nCino, Inc. (NCNO) achieved its 'Rule of 40' milestone early and increased its FY27 guidance despite anticipated tough comparisons in its mortgage business for Q2.

Table of Contents

• Summary of Changes
• Company Research
• Retail
• Capri Holdings Limited: FY4Q26 Review: Tariff-Driven Beat Clouds Underlying Turn in Progress
• Technology
• nCino, Inc.: Achieved “Rule of 40” Early; FY27 Guide Going Up Despite Tough 2Q Mortgage Comp; Introducing New ACV-Based Revenue Build
• Explanation of Summary of Changes table
• Analyst(s) Certification(s)
• Important Disclosures
• Availability of Disclosures
• Risk Disclosure(s)
• Guide to the Barclays Fundamental Equity Research Rating System
• Industry View
• Distribution of Ratings
• Guide to the Barclays Research Price Target
• Types of investment recommendations produced by Barclays Equity Research
• Disclosure of other investment recommendations produced by Barclays Equity Research
• Legal entities involved in producing Barclays Research
• Disclaimer

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