nCino Stock – nCino (NASDAQ:NCNO) Issues Q2 2022 Earnings Guidance
nCino (NASDAQ:NCNO) updated its second quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $-0.060–0.050 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.060. The company issued revenue guidance of $63 million-64 million, compared to the consensus revenue estimate of $61.36 million.nCino also updated its FY 2022 guidance to $-0.230–0.210 EPS.
A number of research analysts recently commented on the stock. Barclays lowered their price target on shares of nCino from $92.00 to $75.00 and set an equal weight rating for the company in a report on Monday, March 29th. Gabelli raised shares of nCino from a hold rating to a buy rating in a report on Friday, May 14th. Zacks Investment Research raised shares of nCino from a sell rating to a hold rating in a report on Wednesday, April 21st. Needham & Company LLC decreased their price objective on shares of nCino from $85.00 to $80.00 and set a buy rating for the company in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Finally, Robert W. Baird started coverage on shares of nCino in a research note on Wednesday, February 17th. They issued a neutral rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. nCino presently has a consensus rating of Buy and a consensus target price of $86.00.
Shares of nCino stock traded up $2.31 on Tuesday, hitting $64.10. 18,147 shares of the company traded hands, compared to its average volume of 1,165,565. The company has a 50 day moving average of $63.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.82 and a current ratio of 3.29. nCino has a 52 week low of $48.00 and a 52 week high of $103.95. The stock has a market cap of $6.12 billion and a P/E ratio of -112.34.
nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, June 1st. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. nCino had a negative net margin of 23.72% and a negative return on equity of 9.82%. The firm had revenue of $62.36 million during the quarter, compared to the consensus estimate of $59.36 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The company’s revenue was up 39.5% on a year-over-year basis. On average, analysts forecast that nCino will post -0.52 EPS for the current fiscal year.
In related news, CEO Pierre Naude sold 335,750 shares of nCino stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $67.74, for a total transaction of $22,743,705.00. Following the transaction, the chief executive officer now directly owns 1,308,327 shares of the company’s stock, valued at $88,626,070.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey W. Lunsford sold 2,000 shares of nCino stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $64.03, for a total transaction of $128,060.00. Insiders have sold 404,171 shares of company stock valued at $27,500,036 in the last ninety days.
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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