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

NICE (NASDAQ:NICE) had its price target dropped by DA Davidson from $300.00 to $225.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 30.34% from the company’s current price. DA Davidson also issued estimates for NICE’s FY2024 earnings at $8.81 EPS.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of NICE in a research report on Thursday, October 3rd. JMP Securities restated a “market outperform” rating and set a $300.00 price target on shares of NICE in a report on Friday, August 16th. Citigroup raised 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. Wedbush restated an “outperform” rating and issued a $250.00 target price on shares of NICE in a report on Friday, August 16th. Finally, Oppenheimer downgraded NICE from an “outperform” rating to a “market perform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NICE has an average rating of “Moderate Buy” and a consensus price target of $260.57.

NICE Stock Down 5.3 %

NICE opened at $172.62 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. NICE has a 12 month low of $151.52 and a 12 month high of $270.73. The stock’s 50 day moving average price is $172.93 and its 200 day moving average price is $178.02. The stock has a market cap of $10.85 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. The company had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. NICE’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, research analysts predict that NICE will post 8.5 earnings per share for the current year.

Institutional Trading of NICE

A number of institutional investors and hedge funds have recently made changes to their positions in NICE. Avantax Advisory Services Inc. bought a new position in shares of NICE in the first quarter valued at approximately $298,000. ProShare Advisors LLC acquired a new position in NICE during the 1st quarter worth $313,000. Blair William & Co. IL boosted its holdings in NICE by 22.9% during the first quarter. Blair William & Co. IL now owns 5,873 shares of the technology company’s stock valued at $1,531,000 after acquiring an additional 1,096 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of NICE by 38.2% in the first quarter. Orion Portfolio Solutions LLC now owns 6,329 shares of the technology company’s stock valued at $1,649,000 after purchasing an additional 1,750 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of NICE in the first quarter worth about $219,000. 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.