Royal Bank of Canada Reiterates Outperform Rating for NICE (NASDAQ:NICE)

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They presently have a $260.00 target price on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 50.62% from the stock’s current price.

Several other analysts have also recently issued reports on NICE. Citigroup raised their target price on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of NICE in a research note on Tuesday, August 13th. Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a research note on Friday. DA Davidson reduced their price objective on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a research report on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $260.57.

NICE Trading Down 5.3 %

Shares of NICE stock opened at $172.62 on Friday. The business has a 50-day moving average of $172.93 and a 200 day moving average of $178.02. 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 1-year low of $151.52 and a 1-year high of $270.73. The stock has a market capitalization of $10.85 billion, a PE ratio of 26.72, a P/E/G ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $664.10 million. During the same period in the previous year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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 modified their holdings of the business. Creative Financial Designs Inc. ADV boosted 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 valued at $26,000 after buying an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after acquiring an additional 107 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of NICE during the 3rd quarter valued at about $38,000. GAMMA Investing LLC boosted its holdings in shares of NICE by 89.9% during the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock valued at $43,000 after acquiring an additional 116 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of NICE in the second quarter worth approximately $72,000. Institutional investors 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.