nCino (NASDAQ:NCNO) Announces Earnings Results, Beats Expectations By $0.03 EPS

nCino (NASDAQ:NCNO) released its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03, MarketWatch Earnings reports.

NCNO stock traded up $2.66 during midday trading on Thursday, hitting $69.38. The stock had a trading volume of 1,493,150 shares, compared to its average volume of 1,344,340. The business has a 50-day moving average of $70.67 and a two-hundred day moving average of $74.87. nCino has a 52-week low of $57.38 and a 52-week high of $103.95.

NCNO has been the subject of a number of recent research reports. Needham & Company LLC dropped their target price on nCino from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday. They noted that the move was a valuation call. Barclays dropped their target price on nCino from $92.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday. KeyCorp lowered their price objective on nCino from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 15th. Piper Sandler boosted their price objective on nCino from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 10th. Finally, Robert W. Baird began coverage on nCino in a research report on Wednesday, February 17th. They issued a “neutral” rating and a $85.00 price objective for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.63.

In related news, CEO Pierre Naude sold 11,433 shares of the company’s stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $70.34, for a total value of $804,197.22. Following the sale, the chief executive officer now directly owns 530,000 shares of the company’s stock, valued at $37,280,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David Rudow sold 11,434 shares of the company’s stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $70.34, for a total value of $804,267.56. Following the completion of the sale, the chief financial officer now directly owns 25,000 shares in the company, valued at $1,758,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 831,723 shares of company stock worth $61,053,767.

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 operating system offers customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting solutions.

Recommended Story: What is meant by holder of record?

Receive News & Ratings for nCino Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nCino and related companies with MarketBeat.com's FREE daily email newsletter.