nCino (NASDAQ:NCNO) Announces Earnings Results

nCino (NASDAQ:NCNO) announced its quarterly earnings results on Tuesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01, Briefing.com reports. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The company had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. During the same period in the previous year, the business earned ($0.02) EPS. nCino’s revenue for the quarter was up 13.0% on a year-over-year basis.

nCino Price Performance

Shares of NCNO traded down $4.02 during mid-day trading on Wednesday, hitting $30.51. The company’s stock had a trading volume of 1,553,359 shares, compared to its average volume of 990,690. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. nCino has a 1-year low of $27.13 and a 1-year high of $37.48. The firm has a market capitalization of $3.51 billion, a P/E ratio of -96.68, a P/E/G ratio of 17.54 and a beta of 0.59. The firm has a 50-day simple moving average of $32.34 and a 200 day simple moving average of $31.45.

Insider Buying and Selling

In related news, CEO Pierre Naude sold 14,101 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $425,145.15. Following the sale, the chief executive officer now owns 1,114,239 shares of the company’s stock, valued at $33,594,305.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other nCino news, VP Jeanette Sellers sold 1,143 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $34,461.45. Following the sale, the vice president now owns 26,217 shares of the company’s stock, valued at $790,442.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Pierre Naude sold 14,101 shares of nCino stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total value of $425,145.15. Following the transaction, the chief executive officer now owns 1,114,239 shares of the company’s stock, valued at $33,594,305.85. The disclosure for this sale can be found here. Insiders have sold 6,641,872 shares of company stock valued at $212,222,237 over the last quarter. Company insiders own 28.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Macquarie reiterated an “outperform” rating and set a $40.00 target price on shares of nCino in a research report on Tuesday, August 6th. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, June 26th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday. Finally, Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of nCino in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.15.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.