NICE (NASDAQ:NICE) Releases FY 2024 Earnings Guidance

NICE (NASDAQ:NICE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.600-10.800 for the period, compared to the consensus EPS estimate of 10.630. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. NICE also updated its FY24 guidance to $10.60-10.80 EPS.

NICE Stock Up 2.7 %

Shares of NASDAQ NICE traded up $4.42 on Thursday, hitting $171.20. The company had a trading volume of 741,044 shares, compared to its average volume of 514,689. The firm has a market capitalization of $10.76 billion, a P/E ratio of 30.10, a PEG ratio of 1.44 and a beta of 1.04. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.13. NICE has a 12-month low of $149.54 and a 12-month high of $270.73. The business has a 50 day moving average of $171.47 and a two-hundred day moving average of $207.25.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, May 16th. The technology company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.13. NICE had a net margin of 14.92% and a return on equity of 14.05%. The firm had revenue of $659.31 million for the quarter, compared to the consensus estimate of $654.81 million. As a group, equities research analysts forecast that NICE will post 8.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. DA Davidson reaffirmed a buy rating and set a $300.00 target price on shares of NICE in a research report on Wednesday, June 12th. Northland Securities reiterated an outperform rating and set a $305.00 target price on shares of NICE in a research note on Thursday, June 13th. Bank of America reduced their target price on NICE from $300.00 to $270.00 and set a buy rating on the stock in a report on Friday, May 17th. Royal Bank of Canada lowered their price target on NICE from $265.00 to $230.00 and set an outperform rating for the company in a report on Wednesday, June 12th. Finally, Rosenblatt Securities reissued a buy rating and set a $225.00 price target on shares of NICE in a research report on Tuesday. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $269.64.

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.