nCino (NASDAQ:NCNO) Issues Earnings Results

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

nCino Trading Down 19.7 %

nCino stock opened at $22.59 on Thursday. The stock has a 50-day moving average price of $31.02 and a 200 day moving average price of $34.12. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -132.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NCNO. Bank of America lowered nCino from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Wednesday. Truist Financial downgraded nCino from a “buy” rating to a “hold” rating and dropped their price objective for the company from $44.00 to $21.00 in a research report on Wednesday. Needham & Company LLC reduced their target price on shares of nCino from $45.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Stephens reissued an “equal weight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.13.

Insider Buying and Selling

In related news, CEO Sean Desmond sold 5,034 shares of the business’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 $164,108.40. Following the completion of the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the stock in a transaction dated 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 sale, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by company 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.