nCino (NASDAQ:NCNO) Issues Quarterly Earnings Results

nCino (NASDAQ:NCNO) announced its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.22), FiscalAI reports. nCino had a net margin of 2.17% and a return on equity of 6.85%. The firm had revenue of $161.00 million for the quarter, compared to analyst estimates of $159.14 million.

nCino Trading Down 0.7%

NASDAQ NCNO traded down $0.14 during trading hours on Tuesday, reaching $20.81. The company’s stock had a trading volume of 3,535,031 shares, compared to its average volume of 2,918,854. The firm has a fifty day simple moving average of $17.78 and a 200-day simple moving average of $16.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. nCino has a 52 week low of $13.80 and a 52 week high of $33.92. The stock has a market cap of $2.28 billion, a P/E ratio of 173.42 and a beta of 0.66.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group lowered their price objective on shares of nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Citigroup reaffirmed a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd. Finally, Citizens Jmp lowered their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Insider Activity

In other news, CFO Gregory Orenstein sold 11,780 shares of nCino stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $226,411.60. Following the transaction, the chief financial officer owned 690,513 shares in the company, valued at approximately $13,271,659.86. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 1,536 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total transaction of $29,998.08. Following the completion of the sale, the senior vice president directly owned 48,453 shares in the company, valued at approximately $946,287.09. This represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 83,350 shares of company stock worth $1,568,144. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in shares of nCino in the fourth quarter valued at approximately $38,000. Quarry LP raised its position in nCino by 138.2% in the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after buying an additional 987 shares during the last quarter. Advisory Services Network LLC purchased a new stake in nCino in the 3rd quarter valued at $65,000. Steward Partners Investment Advisory LLC lifted its stake in nCino by 14.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company’s stock valued at $153,000 after acquiring an additional 765 shares in the last quarter. Finally, Marex Group plc bought a new position in nCino during the 4th quarter valued at $208,000. 94.76% of the stock is owned by institutional investors and hedge funds.

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.