Northland Securities Issues Pessimistic Forecast for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its price objective dropped by equities researchers at Northland Securities from $275.00 to $250.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Northland Securities’ price target suggests a potential upside of 44.83% from the company’s current price.

Several other research firms have also weighed in on NICE. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of NICE in a report on Tuesday, August 13th. Piper Sandler reiterated a “neutral” rating on shares of NICE in a research report on Thursday. Barclays decreased their target price on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price target on shares of NICE in a report on Friday, August 16th. Finally, Citigroup increased their price objective on shares of NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.57.

NICE Price Performance

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

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The company had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. During the same quarter last year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts expect that NICE will post 8.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vulcan Value Partners LLC lifted its stake in shares of NICE by 49.7% in the second quarter. Vulcan Value Partners LLC now owns 1,188,371 shares of the technology company’s stock valued at $204,168,000 after buying an additional 394,715 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in 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 acquiring an additional 279,375 shares in the last quarter. Acadian Asset Management LLC lifted its position in NICE by 63.2% in the 2nd quarter. Acadian Asset Management LLC now owns 694,050 shares of the technology company’s stock valued at $119,317,000 after acquiring an additional 268,677 shares in the last quarter. Marshall Wace LLP acquired a new position in NICE during the 2nd quarter valued at about $44,076,000. Finally, Black Creek Investment Management Inc. increased its holdings in 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 worth $233,325,000 after purchasing an additional 250,334 shares in the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.

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.