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

NICE (NASDAQ:NICE) had its price target cut by DA Davidson from $300.00 to $225.00 in a research report report published 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 research firms have also issued reports on NICE. Citigroup upped their target price on NICE from $330.00 to $334.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of NICE in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of NICE in a research note on Friday, August 16th. Piper Sandler reissued a “neutral” rating on shares of NICE in a research note on Thursday. Finally, Northland Securities decreased their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $260.57.

NICE Price Performance

Shares of NICE stock traded down $9.57 during mid-day trading on Friday, reaching $172.62. The stock had a trading volume of 1,165,943 shares, compared to its average volume of 525,258. NICE has a 12-month low of $151.52 and a 12-month high of $270.73. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $172.93 and a 200 day simple moving average of $178.34. The company has a market cap of $10.85 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. The company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 earnings per share. On average, sell-side analysts anticipate that NICE will post 8.5 earnings per share for the current year.

Institutional Investors Weigh In On NICE

Hedge funds have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV lifted its position in shares of NICE by 208.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in NICE by 135.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after purchasing an additional 107 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in NICE in the 3rd quarter valued at approximately $38,000. GAMMA Investing LLC raised its stake in shares of NICE by 89.9% during the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock valued at $43,000 after purchasing an additional 116 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of NICE during the 2nd quarter worth about $72,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

About NICE

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.