NICE (NASDAQ:NICE) Given New $225.00 Price Target at DA Davidson

NICE (NASDAQ:NICE) had its price objective lowered by DA Davidson from $300.00 to $225.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock. DA Davidson also issued estimates for NICE’s FY2024 earnings at $8.81 EPS.

Other equities analysts have also issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Thursday, October 3rd. Wedbush restated an “outperform” rating and set a $250.00 price objective on shares of NICE in a research report on Friday, August 16th. Finally, Citigroup upped their target price on NICE from $330.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.57.

NICE Price Performance

Shares of NASDAQ:NICE traded down $9.57 on Friday, reaching $172.62. 1,165,943 shares of the company traded hands, compared to its average volume of 525,258. The company’s 50 day moving average is $172.93 and its 200-day moving average is $178.34. The stock has a market capitalization of $10.85 billion, a PE ratio of 28.82, a P/E/G ratio of 1.61 and a beta of 1.04. 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 fifty-two week low of $151.52 and a fifty-two week high of $270.73.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $664.10 million. During the same quarter last year, the business posted $1.63 EPS. NICE’s revenue was up 14.3% on a year-over-year basis. As a group, analysts anticipate that NICE will post 8.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NICE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV boosted its holdings in shares of NICE by 208.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after buying an additional 100 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in NICE by 135.4% during the second 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 acquired a new stake in shares of NICE in the third quarter valued at about $38,000. GAMMA Investing LLC increased its stake in shares of NICE by 89.9% in the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after purchasing an additional 116 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of NICE during the 2nd quarter worth about $72,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

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.