nCino (NASDAQ:NCNO) Issues Quarterly Earnings Results

nCino (NASDAQ:NCNO) released its earnings results on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06), Briefing.com reports. The business had revenue of $141.37 million for the quarter, compared to analysts’ expectations of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS.

nCino Stock Performance

NASDAQ:NCNO traded down $7.00 during mid-day trading on Wednesday, reaching $21.12. 4,948,010 shares of the stock were exchanged, compared to its average volume of 1,232,959. The stock has a market capitalization of $2.45 billion, a P/E ratio of -125.83, a P/E/G ratio of 5.77 and a beta of 0.66. nCino has a 1 year low of $18.12 and a 1 year high of $43.20. The company has a 50 day simple moving average of $31.22 and a 200-day simple moving average of $34.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Needham & Company LLC lowered their price target on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. KeyCorp reissued a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Keefe, Bruyette & Woods decreased their target price on nCino from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, nCino has a consensus rating of “Hold” and an average price target of $34.21.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by insiders.

nCino announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

nCino Company Profile

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.