nCino (NASDAQ:NCNO) Posts 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, beating the consensus estimate of ($0.09) by $0.03, MarketWatch Earnings reports.

nCino stock traded up $2.67 during mid-day trading on Thursday, hitting $69.39. 40,779 shares of the company’s stock traded hands, compared to its average volume of 1,341,749. nCino has a one year low of $57.38 and a one year high of $103.95. The firm has a 50 day moving average price of $70.92 and a 200 day moving average price of $74.92.

In other nCino news, major shareholder Salesforce.Com, Inc. sold 44,083 shares of the business’s stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $72.68, for a total transaction of $3,203,952.44. The transaction was disclosed in a 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 that occurred on Tuesday, January 12th. The stock was sold at an average price of $70.34, for a total transaction of $804,267.56. Following the completion of the sale, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at $1,758,500. The disclosure for this sale can be found here. In the last three months, insiders sold 831,723 shares of company stock valued at $61,053,767.

Several research firms have recently commented on NCNO. Robert W. Baird started coverage on shares of nCino in a report on Wednesday, February 17th. They issued a “neutral” rating and a $85.00 price target for the company. Needham & Company LLC lowered their target price on nCino from $100.00 to $85.00 and set a “buy” rating for the company in a report on Thursday. They noted that the move was a valuation call. Barclays dropped their price target on nCino from $92.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Monday. 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, KeyCorp dropped their target price on nCino from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 15th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $86.63.

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.

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