nCino (NASDAQ:NCNO) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

nCino (NASDAQ:NCNO) released its quarterly earnings data on Tuesday. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06), Briefing.com reports. The firm had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share.

nCino Stock Performance

NASDAQ:NCNO traded down $7.06 during mid-day trading on Wednesday, hitting $21.06. 7,061,392 shares of the company traded hands, compared to its average volume of 1,238,692. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average price is $31.22 and its 200-day moving average price is $34.20. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -124.35, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino has a one year low of $18.12 and a one year high of $43.20.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NCNO shares. Scotiabank restated a “sector perform” rating and issued a $19.00 price objective (down from $35.00) on shares of nCino in a report on Wednesday. Bank of America cut nCino from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Wednesday. The Goldman Sachs Group downgraded nCino from a “buy” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $24.00 in a report on Wednesday. William Blair lowered nCino from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Macquarie raised their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Hold” and an average price target of $32.07.

nCino declared that its board has authorized a stock buyback plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,325 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the sale, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock valued at $2,963,893 over the last quarter. 28.40% of the stock is currently owned by company insiders.

nCino Company Profile

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.