nCino (NASDAQ:NCNO) Announces Quarterly Earnings Results
by Jessica Moore · The Cerbat GemnCino (NASDAQ:NCNO – Get Free Report) released its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14), FiscalAI reports. nCino had a net margin of 0.87% and a return on equity of 4.75%. The firm had revenue of $159.41 million during the quarter, compared to the consensus estimate of $155.77 million.
nCino Price Performance
Shares of NCNO traded down $0.04 during mid-day trading on Wednesday, reaching $15.19. The company had a trading volume of 4,423,509 shares, compared to its average volume of 2,755,788. The company’s 50 day simple moving average is $16.50 and its 200 day simple moving average is $20.18. nCino has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 303.80 and a beta of 0.72.
Insider Buying and Selling
In other news, Director Pierre Naude sold 35,650 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the sale, the director directly owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 3,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total transaction of $66,657.80. Following the completion of the sale, the senior vice president owned 50,876 shares in the company, valued at approximately $917,803.04. The trade was a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 164,918 shares of company stock worth $2,900,939 in the last quarter. Corporate insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On nCino
Hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new stake in nCino during the 4th quarter worth approximately $38,000. Quarry LP boosted its position in nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after buying an additional 987 shares during the period. Advisory Services Network LLC acquired a new stake in nCino during the 3rd quarter worth approximately $65,000. Steward Partners Investment Advisory LLC boosted its position in nCino by 14.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company’s stock worth $153,000 after buying an additional 765 shares during the period. Finally, Marex Group plc acquired a new stake in nCino during the 4th quarter worth approximately $208,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NCNO has been the topic of several recent analyst reports. Citizens Jmp decreased their target price on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, May 18th. JPMorgan Chase & Co. decreased their target price on shares of nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Robert W. Baird decreased their target price on shares of nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Zacks Research raised shares of nCino from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.21.
View Our Latest Stock Analysis on NCNO
About nCino
nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.
Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.
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