NCINO (NCNO) an intriguing small-cap seeing bullish flow recently ahead of earnings next week including a buyer of 1,500 May $45/$60 call spreads yesterday for $4.90. On 3/14, the April $40 calls were bought near 900X and on 3/11 the April $55 calls were bought over 3800X. Shares debuted in mid-2020 and have ultimately traded lower in a large weekly channel ever since. NCNO has been basing since early January and a pop above $50 would have room back to $60 which was key support last year. The $4.8B company trades 18.6X EV/sales with mid-30% growth. NCNO is a provider of cloud banking and digital solutions for the financial services industry. Their nCino Bank Operating System digitizes, automates, and streamlines complex processes and workflow and utilizes data analytics and artificial intelligence to help businesses onboard new clients, manage the entire loan life cycle, open accounts, and manage compliance. The company said in December their primary growth driver in 2022 will be gaining a lead in commercial loan origination and small business while international expansion is a big value unlock for them as they have seen success in Canada, the UK, Japan and elsewhere. In January, the company completed their acquisition of SimpleNexus, a cloud-based, mobile-first homeownership software company that expands their product reach and gives them a more robust customer platform. Piper has an $80 PT for shares and Overweight rating while Stephens positive noting that the company is a differentiated bank-tech player that is uniquely positioned for growth in the growing digital lending market. They also added that there is a strong runway for growth with the potential for an upside revenue surprise. Short interest is 7%.