nCino (NASDAQ:NCNO) Posts Earnings Results

nCino (NASDAQ:NCNO) released its earnings results on Tuesday. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter last year, the business earned $0.21 EPS. The business’s revenue was up 14.3% compared to the same quarter last year.

nCino Stock Down 22.3 %

NASDAQ:NCNO traded down $6.26 during midday trading on Wednesday, hitting $21.86. 3,075,645 shares of the company were exchanged, compared to its average volume of 1,225,342. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a fifty-two week low of $18.12 and a fifty-two week high of $43.20. The company has a market capitalization of $2.53 billion, a PE ratio of -126.50, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The company has a fifty day simple moving average of $31.22 and a 200 day simple moving average of $34.20.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NCNO. Barclays upgraded shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research report on Monday, January 6th. The Goldman Sachs Group lowered nCino from a “buy” rating to a “neutral” rating and cut their target price for the company from $42.00 to $24.00 in a research report on Wednesday. William Blair cut nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Truist Financial lowered nCino from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $21.00 in a research note on Wednesday. Finally, Needham & Company LLC dropped their target price on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $34.21.

Insiders Place Their Bets

In other news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,877 shares of company stock valued at $2,963,893. 28.40% of the stock is currently owned by insiders.

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.