nCino (NASDAQ:NCNO) Issues Q1 2023 Earnings Guidance

nCino (NASDAQ:NCNOGet Rating) updated its first quarter 2023 earnings guidance on Thursday. The company provided EPS guidance of $-0.080-$-0.070 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.030. The company issued revenue guidance of $91 million-$92 million, compared to the consensus revenue estimate of $75.89 million.nCino also updated its FY 2023 guidance to $-0.320-$-0.310 EPS.

Several research firms have issued reports on NCNO. Robert W. Baird lowered their price objective on shares of nCino from $60.00 to $55.00 in a research report on Monday, April 4th. Barclays lowered their price target on shares of nCino from $58.00 to $47.00 and set an equal weight rating for the company in a research report on Friday, April 1st. Zacks Investment Research raised shares of nCino from a sell rating to a hold rating in a research report on Saturday, March 5th. KeyCorp lowered their price target on shares of nCino from $75.00 to $60.00 and set an overweight rating for the company in a research report on Tuesday, January 25th. Finally, Morgan Stanley assumed coverage on shares of nCino in a research report on Wednesday, April 13th. They issued an overweight rating and a $60.00 price target for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, nCino has an average rating of Buy and a consensus target price of $64.42.

Shares of NASDAQ NCNO opened at $40.27 on Thursday. The company’s fifty day moving average price is $44.37 and its 200 day moving average price is $53.85. nCino has a 1 year low of $37.65 and a 1 year high of $79.43. The company has a market capitalization of $3.90 billion, a PE ratio of -78.96 and a beta of 1.00. 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 (NASDAQ:NCNOGet Rating) last announced its quarterly earnings results on Thursday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). nCino had a negative return on equity of 11.43% and a negative net margin of 18.06%. The firm had revenue of $74.96 million for the quarter, compared to analysts’ expectations of $69.31 million. During the same period last year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 32.5% on a year-over-year basis. On average, equities analysts expect that nCino will post -0.59 EPS for the current year.

In other nCino news, CEO Pierre Naude sold 9,749 shares of the stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $43.63, for a total transaction of $425,348.87. Following the transaction, the chief executive officer now directly owns 920,989 shares of the company’s stock, valued at $40,182,750.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jeanette Sellers sold 13,566 shares of the stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $42.76, for a total transaction of $580,082.16. Following the transaction, the vice president now directly owns 27,940 shares in the company, valued at $1,194,714.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,487 shares of company stock worth $3,730,255. Insiders own 35.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NCNO. Goldman Sachs Group Inc. raised its position in shares of nCino by 41.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 908,509 shares of the company’s stock valued at $49,841,000 after buying an additional 268,139 shares during the last quarter. Morgan Stanley raised its position in shares of nCino by 102.8% in the second quarter. Morgan Stanley now owns 439,153 shares of the company’s stock valued at $26,313,000 after buying an additional 222,582 shares during the last quarter. Norges Bank acquired a new stake in shares of nCino in the fourth quarter valued at about $9,838,000. State Street Corp raised its position in shares of nCino by 23.3% in the fourth quarter. State Street Corp now owns 826,200 shares of the company’s stock valued at $45,325,000 after buying an additional 155,884 shares during the last quarter. Finally, BlackRock Inc. increased its position in nCino by 0.8% during the fourth quarter. BlackRock Inc. now owns 4,227,466 shares of the company’s stock worth $231,919,000 after purchasing an additional 35,304 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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