nCino (NASDAQ:NCNO) Trading Up 7.5% Following Better-Than-Expected Earnings

nCino, Inc. (NASDAQ:NCNO)’s share price was up 7.5% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $31.85 and last traded at $31.70. Approximately 154,136 shares traded hands during trading, a decline of 80% from the average daily volume of 773,646 shares. The stock had previously closed at $29.48.

The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. nCino had a negative return on equity of 4.03% and a negative net margin of 19.47%. The firm had revenue of $117.24 million for the quarter, compared to analyst estimates of $115.00 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The business’s revenue was up 17.7% on a year-over-year basis.

Analysts Set New Price Targets

NCNO has been the topic of several research analyst reports. Barclays upped their target price on nCino from $27.00 to $32.00 in a research report on Wednesday. Stephens restated an “overweight” rating and set a $34.00 target price on shares of nCino in a research report on Monday. 888 restated a “reiterates” rating on shares of nCino in a research report on Thursday, June 1st. Piper Sandler upped their target price on nCino from $22.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Finally, The Goldman Sachs Group started coverage on nCino in a research report on Wednesday, July 12th. They set a “neutral” rating and a $32.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

Insider Activity at nCino

In related news, VP Jeanette Sellers sold 1,170 shares of nCino stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $24.05, for a total transaction of $28,138.50. Following the transaction, the vice president now owns 28,291 shares of the company’s stock, valued at $680,398.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Gregory Orenstein sold 5,568 shares of nCino stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $24.05, for a total transaction of $133,910.40. Following the transaction, the chief financial officer now owns 226,641 shares of the company’s stock, valued at $5,450,716.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeanette Sellers sold 1,170 shares of nCino stock in a transaction on Friday, June 9th. The stock was sold at an average price of $24.05, for a total value of $28,138.50. Following the sale, the vice president now owns 28,291 shares in the company, valued at $680,398.55. The disclosure for this sale can be found here. Insiders have sold a total of 260,737 shares of company stock valued at $7,962,121 over the last 90 days. Insiders own 38.20% of the company’s stock.

Institutional Trading of nCino

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado bought a new stake in nCino during the fourth quarter worth $323,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in nCino by 21.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,586 shares of the company’s stock worth $188,000 after acquiring an additional 1,318 shares during the period. Atria Investments Inc bought a new stake in nCino during the first quarter worth $1,043,000. Envestnet Asset Management Inc. lifted its holdings in nCino by 20.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 51,029 shares of the company’s stock worth $1,349,000 after acquiring an additional 8,682 shares during the period. Finally, ExodusPoint Capital Management LP lifted its holdings in nCino by 90.1% during the first quarter. ExodusPoint Capital Management LP now owns 143,274 shares of the company’s stock worth $3,550,000 after acquiring an additional 67,912 shares during the period. 95.37% of the stock is currently owned by institutional investors.

nCino Stock Up 9.7 %

The stock has a fifty day moving average of $30.30 and a 200 day moving average of $26.96. The firm has a market capitalization of $3.63 billion, a P/E ratio of -43.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.95 and a quick ratio of 0.95.

About nCino

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 secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.