nCino Inc. (NASDAQ:NCNO) shares traded 2.96% higher at $21.92 on Wall Street last session.
NCNO stock price is now -19.95% away from the 50-day moving average and -27.90% away from the 200-day moving average. The market capitalization of the company currently stands at $2.60B.
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With the price target reduced from $30 to $22, Piper Sandler Downgraded its rating from Overweight to Neutral for nCino Inc. (NASDAQ: NCNO). On December 14, 2022, Robert W. Baird Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock keeping its target price maintained at $35, while ‘Macquarie’ rates the stock as ‘Outperform’.
In other news, Sellers Jeanette, VP of Accounting sold 696 shares of the company’s stock on Feb 06. The stock was sold for $20,817 at an average price of $29.91. Upon completion of the transaction, the VP of Accounting now directly owns 18,141 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 03, CEO Naude Pierre sold 6,474 shares of the business’s stock. A total of $197,794 was realized by selling the stock at an average price of $30.55. This leaves the insider owning 882,918 shares of the company worth $19.35 million. Insiders disposed of 395,843 shares of company stock worth roughly $8.68 million over the past 1 year. A total of 2.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NCNO stock. A new stake in nCino Inc. shares was purchased by KEENAN CAPITAL, LLC during the first quarter worth $27,588,000. GRANITE INVESTMENT PARTNERS, LLC invested $10,148,000 in shares of NCNO during the first quarter. In the first quarter, 1832 ASSET MANAGEMENT L.P. acquired a new stake in nCino Inc. valued at approximately $9,336,000. INFINI MASTER FUND acquired a new stake in NCNO for approximately $5,328,000. FIRST TRUST ADVISORS LP purchased a new stake in NCNO valued at around $4,674,000 in the second quarter. In total, there are 288 active investors with 61.80% ownership of the company’s stock.
nCino Inc. (NASDAQ: NCNO) opened at $21.77 on Tuesday. During the past 12 months, nCino Inc. has had a low of $19.58 and a high of $47.97. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for NCNO is $27.30 and a two-hundred day moving average price translates $30.35 for the stock.
The latest earnings results from nCino Inc. (NASDAQ: NCNO) was released for Oct, 2022. According to the Software – Application Company, earnings per share came in at -$0.01, beating analysts’ expectations of -$0.02 by 0.01. This compares to -$0.10 EPS in the same period last year. The net profit margin was -23.70% and return on equity was -8.50% for NCNO. The company reported revenue of $70.04 million for the quarter, compared to $54.23 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 29.15 percent. For the current quarter, analysts expect NCNO to generate $104.54M in revenue.
nCino Inc.(NCNO) Company Profile
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.
