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, 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 banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance. The company's nCino IQ, an application suite that utilizes data analytics and AI/ML to provide its customers with automation and insights into their operations, such as tools for analyzing, measuring, and managing credit risk, as well as to enhance their ability to comply with regulatory requirements. It also offers SimpleNexus, a suite of products that enables loan officers, borrowers, real estate agents, settlement agents, and others to engage in the homeownership process from internet-enabled device. The company serves financial institution customers, including global financial institutions, enterprise banks, regional banks, community banks, credit unions, new market entrants, and independent mortgage banks through sales team comprising business development representatives, account executives, field sales engineers, and customer success managers. nCino, Inc. was founded in 2011 and is headquartered in Wilmington, North Carolina.
nCino Stock Down 5.1 %
NASDAQ:NCNO traded down $2.00 during trading hours on Thursday, hitting $37.08. 456,253 shares of the company were exchanged, compared to its average volume of 856,981. The stock has a 50-day moving average price of $33.23 and a 200 day moving average price of $38.14. nCino has a 52 week low of $23.94 and a 52 week high of $79.43. The stock has a market cap of $4.09 billion, a PE ratio of -58.86 and a beta of 0.82.
nCino (NASDAQ:NCNO - Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). nCino had a negative return on equity of 13.52% and a negative net margin of 21.30%. The company had revenue of $94.21 million for the quarter, compared to the consensus estimate of $91.42 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The company's revenue was up 51.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that nCino will post -0.72 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on NCNO. Stephens decreased their price target on nCino to $40.00 in a report on Friday, June 3rd. Barclays lifted their target price on nCino from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Thursday, June 2nd. KeyCorp reduced their target price on nCino from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, July 7th. Needham & Company LLC reduced their target price on nCino from $60.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, June 2nd. Finally, Morgan Stanley reduced their target price on nCino from $60.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, June 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.44.
Insider Buying and Selling at nCino
In other nCino news, VP Jeanette Sellers sold 974 shares of the business's stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $32.34, for a total transaction of $31,499.16. Following the completion of the transaction, the vice president now owns 21,072 shares in the company, valued at $681,468.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other nCino news, VP Jeanette Sellers sold 974 shares of the business's stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $32.34, for a total transaction of $31,499.16. Following the completion of the transaction, the vice president now owns 21,072 shares in the company, valued at $681,468.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Rudow sold 25,424 shares of the business's stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $35.01, for a total value of $890,094.24. Following the transaction, the chief financial officer now owns 172,961 shares of the company's stock, valued at approximately $6,055,364.61. The disclosure for this sale can be found here. Insiders sold 168,099 shares of company stock worth $5,938,354 over the last 90 days. Company insiders own 37.20% of the company's stock.
