nCino (NASDAQ:NCNO) Issues Quarterly Earnings Results

nCino (NASDAQ:NCNO) announced its quarterly earnings data 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. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The company had revenue of $141.37 million for the quarter, compared to analysts’ expectations of $140.81 million. During the same period last year, the business earned $0.21 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year.

nCino Trading Down 25.1 %

NCNO traded down $7.06 on Wednesday, reaching $21.06. 7,061,392 shares of the company traded hands, compared to its average volume of 1,238,692. The company has a market cap of $2.44 billion, a P/E ratio of -124.35, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a one year low of $18.12 and a one year high of $43.20. The firm has a fifty day simple moving average of $31.22 and a two-hundred day simple moving average of $34.20.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the sale, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. This represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider April Rieger sold 4,325 shares of the firm’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 transaction, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock worth $2,963,893 in the last three months. Corporate insiders own 28.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NCNO. William Blair cut shares of nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and lowered their price objective for the company from $44.00 to $21.00 in a research report on Wednesday. Barclays reduced their target price on shares of nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Scotiabank reaffirmed a “sector perform” rating and issued a $19.00 price target (down previously from $35.00) on shares of nCino in a report on Wednesday. Finally, Piper Sandler dropped their price target on nCino from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.07.

nCino declared that its board has approved a stock buyback program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is 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.