nCino (NASDAQ:NCNO) Releases Q3 2022 Earnings Guidance

nCino (NASDAQ:NCNO) updated its third quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.070-$-0.060 for the period, compared to the Thomson Reuters consensus estimate of $-0.060. The company issued revenue guidance of $66 million-$67 million, compared to the consensus revenue estimate of $65.09 million.nCino also updated its FY 2022 guidance to $-0.230-$-0.220 EPS.

nCino stock traded up $0.96 during midday trading on Wednesday, reaching $78.08. The stock had a trading volume of 1,208 shares, compared to its average volume of 988,958. The stock has a market capitalization of $7.51 billion, a PE ratio of -148.30 and a beta of 1.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.96 and a current ratio of 2.96. The stock’s 50-day simple moving average is $66.40 and its 200 day simple moving average is $64.72. nCino has a twelve month low of $48.00 and a twelve month high of $90.22.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 31st. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.72 million. nCino had a negative return on equity of 8.95% and a negative net margin of 21.39%. nCino’s quarterly revenue was up 36.3% compared to the same quarter last year. Equities analysts predict that nCino will post -0.54 earnings per share for the current fiscal year.

NCNO has been the topic of a number of research reports. Barrington Research raised their target price on shares of nCino from $75.00 to $78.00 and gave the company an equal weight rating in a research note on Thursday, September 2nd. Wells Fargo & Company started coverage on nCino in a research report on Wednesday, June 9th. They issued an equal weight rating and a $70.00 price objective on the stock. Needham & Company LLC boosted their price objective on nCino from $80.00 to $85.00 and gave the stock a buy rating in a research note on Thursday, September 2nd. William Blair began coverage on nCino in a research note on Friday, July 16th. They issued an outperform rating and a $63.63 target price for the company. Finally, Zacks Investment Research raised nCino from a sell rating to a hold rating in a research report on Wednesday, August 4th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $79.40.

In related news, Director William J. Ruh sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 16th. The stock was sold at an average price of $77.50, for a total transaction of $1,550,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Pierre Naude sold 22,886 shares of the business’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $75.19, for a total transaction of $1,720,798.34. Following the sale, the chief executive officer now owns 723,575 shares of the company’s stock, valued at approximately $54,405,604.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,969 shares of company stock worth $12,769,675. 35.40% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in nCino stock. Morgan Stanley increased its holdings in nCino, Inc. (NASDAQ:NCNO) by 102.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,153 shares of the company’s stock after buying an additional 222,582 shares during the quarter. Morgan Stanley owned about 0.46% of nCino worth $26,313,000 at the end of the most recent reporting period. 90.88% of the stock is currently owned by institutional investors.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications for 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 financial institutions 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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