DA Davidson Has Optimistic Outlook of NICE FY2024 Earnings

NICE Ltd. (NASDAQ:NICE) – Analysts at DA Davidson upped their FY2024 earnings per share estimates for shares of NICE in a note issued to investors on Friday, November 15th. DA Davidson analyst G. Luria now anticipates that the technology company will post earnings per share of $8.81 for the year, up from their prior estimate of $8.49. DA Davidson currently has a “Buy” rating and a $225.00 price objective on the stock. The consensus estimate for NICE’s current full-year earnings is $8.58 per share.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. NICE had a return on equity of 15.48% and a net margin of 16.11%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group cut their price target on NICE from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of NICE in a research note on Friday. Piper Sandler restated a “neutral” rating on shares of NICE in a research note on Thursday. Northland Securities cut their price target on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Barclays cut their price target on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $260.57.

NICE Stock Performance

NASDAQ NICE opened at $172.62 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. NICE has a fifty-two week low of $151.52 and a fifty-two week high of $270.73. The stock has a 50-day simple moving average of $172.93 and a two-hundred day simple moving average of $177.72. The firm has a market capitalization of $10.85 billion, a P/E ratio of 26.72, a PEG ratio of 1.40 and a beta of 1.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NICE. Avantax Advisory Services Inc. acquired a new position in shares of NICE during the 1st quarter worth approximately $298,000. ProShare Advisors LLC acquired a new position in NICE in the first quarter valued at approximately $313,000. Blair William & Co. IL lifted its holdings in NICE by 22.9% in 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 last quarter. Orion Portfolio Solutions LLC lifted its holdings in 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 acquiring an additional 1,750 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in NICE in the first quarter valued at approximately $219,000. 63.34% of the stock is currently 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.