nCino (NASDAQ:NCNO) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

nCino (NASDAQ:NCNO) posted its quarterly earnings results on Tuesday. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01, Briefing.com reports. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share.

nCino Price Performance

nCino stock opened at $29.74 on Thursday. The company’s 50 day simple moving average is $32.31 and its 200-day simple moving average is $31.44. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -95.94, a price-to-earnings-growth ratio of 17.54 and a beta of 0.59. nCino has a 1 year low of $27.13 and a 1 year high of $37.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07.

Insider Activity

In other news, insider Sean Desmond sold 5,988 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $180,538.20. Following the sale, the insider now directly owns 370,790 shares of the company’s stock, valued at approximately $11,179,318.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sean Desmond sold 5,988 shares of nCino stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $180,538.20. Following the completion of the transaction, the insider now owns 370,790 shares in the company, valued at $11,179,318.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Pierre Naude sold 14,101 shares of nCino stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $425,145.15. Following the completion of the transaction, the chief executive officer now owns 1,114,239 shares of the company’s stock, valued at approximately $33,594,305.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,642,425 shares of company stock valued at $212,241,592. Company insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NCNO shares. Truist Financial reissued a “buy” rating and issued a $37.00 price target on shares of nCino in a research note on Wednesday. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price on shares of nCino in a research note on Wednesday. Robert W. Baird reduced their target price on shares of nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.15.

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 connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.