Royal Bank of Canada Reaffirms “Outperform” Rating for NICE (NASDAQ:NICE)

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 price target on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 29.87% from the stock’s previous close.

Several other equities analysts have also recently commented on NICE. Jefferies Financial Group reiterated a “hold” rating and set a $200.00 target price (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. Rosenblatt Securities cut their target price on shares of NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Barclays cut their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Citigroup cut their target price on shares of NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Cantor Fitzgerald cut their target price on shares of NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.64.

NICE Trading Up 1.3 %

Shares of NICE stock opened at $154.00 on Wednesday. The firm has a fifty day simple moving average of $159.93 and a 200-day simple moving average of $169.56. NICE has a 1-year low of $137.19 and a 1-year high of $270.73. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.07 and a beta of 1.12.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a return on equity of 16.17% and a net margin of 16.18%. The firm had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. As a group, research analysts predict that NICE will post 9.85 earnings per share for the current year.

Institutional Investors Weigh In On NICE

Several large investors have recently made changes to their positions in NICE. Avion Wealth bought a new stake in shares of NICE in the 4th quarter worth about $25,000. Tradewinds Capital Management LLC bought a new stake in shares of NICE in the 4th quarter worth about $25,000. Anchor Investment Management LLC grew its holdings in shares of NICE by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of NICE in the 4th quarter worth about $25,000. Finally, McIlrath & Eck LLC grew its holdings in shares of NICE by 56.9% in the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. 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.