nCino (NASDAQ:NCNO) Updates FY 2023 Earnings Guidance

nCino (NASDAQ:NCNOGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share guidance of -$0.30–$0.28 for the period, compared to the consensus earnings per share estimate of -$0.32. The company issued revenue guidance of $401.00 million-$403.00 million, compared to the consensus revenue estimate of $398.78 million.nCino also updated its Q2 2023 guidance to -$0.09–$0.08 EPS.

Several research firms have recently issued reports on NCNO. Piper Sandler decreased their price target on nCino from $55.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, June 2nd. Stephens decreased their price target on nCino to $40.00 in a research note on Friday, June 3rd. Morgan Stanley decreased their price target on nCino from $60.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, June 2nd. Truist Financial decreased their price target on nCino from $80.00 to $70.00 and set a buy rating for the company in a research note on Thursday, June 2nd. Finally, Robert W. Baird decreased their price target on nCino from $60.00 to $55.00 in a research note on Monday, April 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $54.78.

Shares of NASDAQ NCNO opened at $36.10 on Wednesday. nCino has a 12 month low of $23.94 and a 12 month high of $79.43. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $36.46 and a 200-day simple moving average of $44.84.

nCino (NASDAQ:NCNOGet Rating) last announced its earnings results on Wednesday, June 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. nCino had a negative return on equity of 13.52% and a negative net margin of 21.30%. The business had revenue of $94.21 million during the quarter, compared to the consensus estimate of $91.42 million. During the same period in the prior year, the business posted ($0.11) earnings per share. nCino’s revenue was up 51.1% compared to the same quarter last year. Equities research analysts forecast that nCino will post -0.64 EPS for the current year.

In other nCino news, CFO David Rudow sold 2,215 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 value of $96,640.45. Following the transaction, the chief financial officer now directly owns 198,385 shares of the company’s stock, valued at approximately $8,655,537.55. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $72,556.69. Following the completion of the transaction, the insider now directly owns 228,255 shares in the company, valued at $9,958,765.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,487 shares of company stock valued at $7,333,455. Company insiders own 37.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of NCNO. Dimensional Fund Advisors LP increased its holdings in shares of nCino by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,740 shares of the company’s stock valued at $918,000 after acquiring an additional 384 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of nCino during the 4th quarter valued at about $49,000. Allstate Corp grew its holdings in nCino by 12.7% in the 4th quarter. Allstate Corp now owns 9,536 shares of the company’s stock valued at $523,000 after buying an additional 1,075 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in nCino by 47.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,429 shares of the company’s stock valued at $141,000 after buying an additional 1,111 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in nCino by 3.5% in the 1st quarter. Invesco Ltd. now owns 33,679 shares of the company’s stock valued at $1,380,000 after buying an additional 1,153 shares during the last quarter.

nCino Company Profile (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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