nCino (NASDAQ:NCNO) Issues Q2 Earnings Guidance

nCino (NASDAQ:NCNO – Get Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $(0.09)-(0.08) for the period, compared to the consensus EPS estimate of ($0.08). The company issued revenue guidance of $97-98 million, compared to the consensus revenue estimate of $95.34 million.nCino also updated its FY 2023 guidance to -$0.30–$0.28 EPS.

Shares of nCino stock traded down $0.66 on Wednesday, reaching $32.01. The stock had a trading volume of 1,154,183 shares, compared to its average volume of 960,466. The business’s 50-day moving average price is $37.17 and its two-hundred day moving average price is $45.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.62 and a current ratio of 3.62. nCino has a fifty-two week low of $23.94 and a fifty-two week high of $79.43. The stock has a market cap of $3.53 billion, a P/E ratio of -62.76 and a beta of 0.89.

nCino (NASDAQ:NCNO – Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. nCino had a negative net margin of 18.06% and a negative return on equity of 11.43%. The business had revenue of $94.21 million during the quarter, compared to analysts’ expectations of $91.42 million. During the same period in the previous year, the company earned ($0.11) earnings per share. nCino’s revenue for the quarter was up 51.1% on a year-over-year basis. As a group, equities analysts forecast that nCino will post -0.63 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on NCNO shares. Barclays reduced their price objective on shares of nCino from $47.00 to $38.00 and set an equal weight rating for the company in a research note on Tuesday, May 24th. Morgan Stanley started coverage on shares of nCino in a research note on Wednesday, April 13th. They set an overweight rating and a $60.00 target price for the company. Needham & Company LLC cut their target price on shares of nCino from $85.00 to $60.00 and set a buy rating for the company in a research note on Friday, April 1st. Piper Sandler cut their target price on shares of nCino from $80.00 to $55.00 and set an overweight rating for the company in a research note on Friday, April 1st. Finally, Zacks Investment Research upgraded shares of nCino from a sell rating to a hold rating in a research note on Saturday, March 5th. Four 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 Buy and an average price target of $63.60.

In other news, CEO Pierre Naude sold 9,749 shares of the company’s stock in a transaction dated Wednesday, April 6th. The shares were sold at an average price of $43.63, for a total value of $425,348.87. Following the sale, the chief executive officer now owns 920,989 shares of the company’s stock, valued at approximately $40,182,750.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joshua L. Glover sold 1,663 shares of the company’s stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $43.63, for a total transaction of $72,556.69. Following the completion of the sale, the insider now directly owns 228,255 shares in the company, valued at approximately $9,958,765.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,487 shares of company stock valued at $3,730,255. Corporate insiders own 37.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NCNO. Canada Pension Plan Investment Board bought a new stake in nCino during the 4th quarter worth about $49,000. Advisors Asset Management Inc. grew its holdings in nCino by 218.8% during the 4th quarter. Advisors Asset Management Inc. now owns 2,318 shares of the company’s stock worth $127,000 after acquiring an additional 1,591 shares during the last quarter. MetLife Investment Management LLC bought a new stake in nCino during the 1st quarter worth about $149,000. Lazard Asset Management LLC grew its holdings in nCino by 414.2% during the 1st quarter. Lazard Asset Management LLC now owns 4,823 shares of the company’s stock worth $197,000 after acquiring an additional 3,885 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in nCino during the 3rd quarter worth about $207,000.

About nCino (Get Rating)

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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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