DA Davidson Issues Pessimistic Forecast for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its price target decreased by equities research analysts at DA Davidson from $300.00 to $225.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 30.34% from the stock’s current price. DA Davidson also issued estimates for NICE’s FY2024 earnings at $8.81 EPS.

Other equities analysts have also recently issued reports about the company. Barclays cut their price target on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Oppenheimer lowered shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday. JMP Securities restated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $250.00 target price on shares of NICE in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NICE presently has an average rating of “Moderate Buy” and an average price target of $260.57.

NICE Price Performance

Shares of NASDAQ:NICE opened at $172.62 on Friday. The company’s fifty day moving average price is $172.93 and its 200 day moving average price is $178.02. The firm has a market capitalization 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. 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.

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

Institutional Trading of NICE

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Research Global Investors raised its position in shares of NICE by 4.0% during the 1st quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock valued at $1,350,367,000 after acquiring an additional 201,035 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of NICE by 21.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock valued at $273,642,000 after buying an additional 279,375 shares during the period. Black Creek Investment Management Inc. grew its position in shares of NICE by 22.6% during the 2nd quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock valued at $233,325,000 after buying an additional 250,334 shares during the last quarter. Vulcan Value Partners LLC raised its stake in NICE by 49.7% during the second quarter. Vulcan Value Partners LLC now owns 1,188,371 shares of the technology company’s stock worth $204,168,000 after acquiring an additional 394,715 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in NICE by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company’s stock worth $181,693,000 after acquiring an additional 117,749 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.