nCino (NASDAQ:NCNO) Announces Earnings Results, Beats Estimates By $0.01 EPS

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

nCino Stock Performance

NASDAQ:NCNO traded down $4.38 during mid-day trading on Wednesday, reaching $30.15. The company’s stock had a trading volume of 803,397 shares, compared to its average volume of 989,665. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.47 billion, a P/E ratio of -111.39, a PEG ratio of 17.54 and a beta of 0.59. The firm’s fifty day moving average price is $32.34 and its two-hundred day moving average price is $31.45. nCino has a 12-month low of $27.13 and a 12-month high of $37.48.

Insider Activity

In other news, insider April Rieger sold 8,856 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $31.23, for a total transaction of $276,572.88. Following the completion of the transaction, the insider now directly owns 165,791 shares of the company’s stock, valued at $5,177,652.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nCino news, insider Sean Desmond sold 5,988 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total value of $180,538.20. Following the transaction, the insider now directly owns 370,790 shares of the company’s stock, valued at $11,179,318.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider April Rieger sold 8,856 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $31.23, for a total transaction of $276,572.88. Following the sale, the insider now directly owns 165,791 shares of the company’s stock, valued at approximately $5,177,652.93. The disclosure for this sale can be found here. Insiders have sold a total of 6,641,872 shares of company stock valued at $212,222,237 in the last 90 days. 28.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NCNO. Macquarie reissued an “outperform” rating and issued a $40.00 price target on shares of nCino in a research report on Tuesday, August 6th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, June 26th. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of nCino in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $38.00 price target on shares of nCino in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and an average target price of $37.15.

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.