nCino (NASDAQ:NCNO) Releases FY 2022 Earnings Guidance

nCino (NASDAQ:NCNO) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $-0.230-$-0.220 for the period, compared to the Thomson Reuters consensus estimate of $-0.230. The company issued revenue guidance of $263 million-$264 million, compared to the consensus revenue estimate of $259.13 million.nCino also updated its Q3 2022 guidance to $-0.070-$-0.060 EPS.

Shares of NASDAQ:NCNO traded up $0.20 during trading on Wednesday, reaching $74.24. 1,884 shares of the company’s stock traded hands, compared to its average volume of 973,083. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.96 and a quick ratio of 2.96. nCino has a 12 month low of $48.00 and a 12 month high of $90.22. The company has a 50 day moving average of $65.09 and a 200-day moving average of $64.37. The stock has a market capitalization of $7.14 billion, a P/E ratio of -142.38 and a beta of 1.88.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 31st. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $66.50 million during the quarter, compared to the consensus estimate of $63.72 million. The company’s quarterly revenue was up 36.3% on a year-over-year basis. Equities research analysts predict that nCino will post -0.54 earnings per share for the current fiscal year.

Several research analysts have commented on the stock. Needham & Company LLC upped their target price on shares of nCino from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, September 2nd. Wells Fargo & Company assumed coverage on shares of nCino in a research report on Wednesday, June 9th. They issued an equal weight rating and a $70.00 target price for the company. William Blair assumed coverage on shares of nCino in a research report on Friday, July 16th. They issued an outperform rating and a $63.63 target price for the company. Barrington Research upped their target price on shares of nCino from $75.00 to $78.00 and gave the stock an equal weight rating in a research report on Thursday, September 2nd. Finally, Barclays upped their target price on shares of nCino from $75.00 to $78.00 and gave the stock an equal weight rating in a research report on Thursday, September 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $79.40.

In related news, Director William J. Ruh sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $74.89, for a total value of $4,118,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Lunsford sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $61.17, for a total transaction of $122,340.00. Following the completion of the sale, the director now owns 262,105 shares of the company’s stock, valued at approximately $16,032,962.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,583 shares of company stock valued at $9,258,726. Company 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% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 439,153 shares of the company’s stock after buying an additional 222,582 shares during the quarter. Morgan Stanley owned 0.46% of nCino worth $26,313,000 at the end of the most recent reporting period. 90.88% of the stock is owned by institutional investors and hedge funds.

nCino Company Profile

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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