nCino (NASDAQ:NCNO) Updates Q3 2022 Earnings Guidance

nCino (NASDAQ:NCNO) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $-0.070-$-0.060 for the period, compared to the Thomson Reuters consensus earnings per share 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.

Shares of NASDAQ NCNO traded up $0.20 during midday trading on Wednesday, reaching $74.24. The company’s stock had a trading volume of 1,884 shares, compared to its average volume of 973,083. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.04. nCino has a fifty-two week low of $48.00 and a fifty-two week high of $90.22. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of -142.38 and a beta of 1.88. The stock has a 50 day simple moving average of $65.09 and a 200-day simple moving average of $64.37.

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

A number of brokerages recently weighed in on NCNO. Zacks Investment Research upgraded shares of nCino from a sell rating to a hold rating in a report on Wednesday, August 4th. Piper Sandler boosted their target price on shares of nCino from $95.00 to $97.00 and gave the stock an overweight rating in a report on Thursday, September 2nd. Wells Fargo & Company began coverage on shares of nCino in a report on Wednesday, June 9th. They set an equal weight rating and a $70.00 target price on the stock. Needham & Company LLC boosted their target price on shares of nCino from $80.00 to $85.00 and gave the stock a buy rating in a report on Thursday, September 2nd. Finally, William Blair began coverage on shares of nCino in a report on Friday, July 16th. They set an outperform rating and a $63.63 target price on the stock. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $79.40.

In other news, Director William J. Ruh sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $63.03, for a total value of $315,150.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $630,300. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeanette Sellers sold 997 shares of the company’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $63.33, for a total transaction of $63,140.01. Following the sale, the vice president now directly owns 6,281 shares of the company’s stock, valued at approximately $397,775.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,583 shares of company stock worth $9,258,726. Corporate insiders own 35.40% of the company’s stock.

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

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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