NICE (NASDAQ:NICE) Price Target Cut to $225.00 by Analysts at DA Davidson

NICE (NASDAQ:NICE) had its target price reduced by DA Davidson from $300.00 to $225.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock. DA Davidson also issued estimates for NICE’s FY2024 earnings at $8.81 EPS.

A number of other brokerages have also recently weighed in on NICE. Northland Securities decreased their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Thursday, October 3rd. Citigroup boosted their price objective on shares of NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer downgraded shares of NICE from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of NICE in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, NICE has an average rating of “Moderate Buy” and a consensus price target of $260.57.

NICE Trading Down 5.3 %

NASDAQ NICE opened at $172.62 on Friday. NICE has a one year low of $151.52 and a one year high of $270.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. The company’s 50-day simple moving average is $172.93 and its two-hundred day simple moving average is $177.72.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.06. The company had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a net margin of 16.11% and a return on equity of 15.48%. NICE’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. Equities analysts forecast that NICE will post 8.58 EPS for the current fiscal year.

Institutional Investors Weigh In On NICE

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank purchased a new position in NICE during the 2nd quarter worth approximately $516,000. Diversified Trust Co lifted its position in NICE by 237.9% during the second quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 4,561 shares during the period. Capital World Investors purchased a new stake in NICE in the first quarter valued at $9,699,000. Asset Management One Co. Ltd. grew its position in NICE by 13.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock worth $8,200,000 after purchasing an additional 5,629 shares during the period. Finally, Buckingham Capital Management Inc. raised its stake in shares of NICE by 43.5% during the 3rd quarter. Buckingham Capital Management Inc. now owns 19,214 shares of the technology company’s stock valued at $3,337,000 after buying an additional 5,829 shares during the last quarter. Institutional investors and hedge funds own 63.34% of the company’s stock.

NICE Company Profile

NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform; Enlighten, an AI engine for the customer engagement market; and smart self service enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connects them using real time AI-based routing.