nCino (NASDAQ:NCNO) Issues Q2 Earnings Guidance

nCino (NASDAQ:NCNOGet 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 NASDAQ:NCNO traded down $0.66 during midday trading on Wednesday, hitting $32.01. 1,154,183 shares of the company’s stock were exchanged, compared to its average volume of 960,466. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.62 and a quick ratio of 3.62. The stock has a 50 day moving average price of $37.17 and a 200-day moving average price of $45.86. The company has a market cap of $3.53 billion, a PE ratio of -62.76 and a beta of 0.89. nCino has a 12 month low of $23.94 and a 12 month high of $79.43.

nCino (NASDAQ:NCNOGet Rating) last posted its earnings results on Wednesday, June 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $94.21 million during the quarter, compared to the consensus estimate of $91.42 million. nCino had a negative net margin of 18.06% and a negative return on equity of 11.43%. The firm’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, analysts anticipate that nCino will post -0.63 EPS for the current fiscal year.

NCNO has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of nCino from $80.00 to $55.00 and set an overweight 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 report on Saturday, March 5th. Needham & Company LLC cut their price target on shares of nCino from $85.00 to $60.00 and set a buy rating on the stock in a report on Friday, April 1st. Robert W. Baird lowered their price target on shares of nCino from $60.00 to $55.00 in a research report on Monday, April 4th. Finally, Morgan Stanley started coverage on shares of nCino in a report on Wednesday, April 13th. They issued an overweight rating and a $60.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, nCino currently has an average rating of Buy and a consensus price target of $63.60.

In other nCino news, CFO David Rudow sold 2,215 shares of the stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $43.63, for a total transaction of $96,640.45. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pierre Naude sold 9,749 shares of the stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $43.63, for a total value of $425,348.87. Following the sale, the chief executive officer now directly owns 920,989 shares in the company, valued at $40,182,750.07. The disclosure for this sale can be found here. In the last three months, insiders sold 87,487 shares of company stock worth $3,730,255. 37.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new stake in shares of nCino during the 4th quarter valued at about $49,000. Advisors Asset Management Inc. grew its position in shares of nCino by 218.8% during the 4th quarter. Advisors Asset Management Inc. now owns 2,318 shares of the company’s stock valued at $127,000 after acquiring an additional 1,591 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of nCino during the 3rd quarter valued at about $207,000. MetLife Investment Management LLC acquired a new stake in shares of nCino during the 1st quarter valued at about $149,000. Finally, Lazard Asset Management LLC grew its position in shares of nCino by 414.2% during the 1st quarter. Lazard Asset Management LLC now owns 4,823 shares of the company’s stock valued at $197,000 after acquiring an additional 3,885 shares during the period.

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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