Northland Securities Has Lowered Expectations for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its price objective cut by stock analysts at Northland Securities from $275.00 to $250.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Northland Securities’ price target would suggest a potential upside of 37.22% from the company’s current price.

Several other equities analysts also recently commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $300.00 target price on shares of NICE in a report on Friday, August 16th. Barclays dropped their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of NICE in a report on Tuesday, August 13th. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of NICE in a research note on Friday, August 16th. Finally, Citigroup lifted their price objective on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, NICE has a consensus rating of “Moderate Buy” and an average target price of $267.00.

NICE Stock Down 8.5 %

Shares of NICE stock opened at $182.19 on Friday. 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 one year low of $151.52 and a one year high of $270.73. The company’s fifty day moving average price is $172.66 and its 200-day moving average price is $178.70. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.61 and a beta of 1.04.

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

Hedge Funds Weigh In On NICE

Several hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of NICE by 4.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company’s stock valued at $367,000 after acquiring an additional 65 shares in the last quarter. Aurora Investment Counsel raised its holdings in shares of NICE by 0.7% in the 2nd quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 80 shares in the last quarter. Financial Perspectives Inc lifted its position in shares of NICE by 17.8% in the 2nd quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock worth $98,000 after purchasing an additional 86 shares during the period. Mendota Financial Group LLC boosted its stake in shares of NICE by 11.4% during the third quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock valued at $146,000 after purchasing an additional 86 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in NICE by 1.3% during the second quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company’s stock valued at $1,148,000 after buying an additional 88 shares during the period. 63.34% of the stock is currently owned by institutional investors.

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.