DA Davidson Cuts NICE (NASDAQ:NICE) Price Target to $225.00

NICE (NASDAQ:NICE) had its price objective lowered by DA Davidson from $300.00 to $225.00 in a report published on Friday,Benzinga reports. The firm 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.

Several other equities analysts have also recently weighed in on the stock. Citigroup raised their target price on shares of NICE from $330.00 to $334.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a report on Thursday. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of NICE in a research note on Friday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of NICE in a research note on Tuesday, August 13th. Finally, Barclays lowered their target price on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.57.

NICE Price Performance

Shares of NICE stock opened at $172.62 on Friday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. NICE has a 52 week low of $151.52 and a 52 week high of $270.73. The stock’s 50-day simple moving average is $172.93 and its 200-day simple moving average is $177.72. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.40 and a beta of 1.04.

NICE (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to the consensus estimate of $664.10 million. NICE had a return on equity of 15.48% and a net margin of 16.11%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. As a group, analysts expect that NICE will post 8.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tanaka Capital Management Inc. boosted its holdings in NICE by 2,663.8% during the 3rd quarter. Tanaka Capital Management Inc. now owns 4,809 shares of the technology company’s stock valued at $835,000 after acquiring an additional 4,635 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of NICE during the third quarter valued at $6,438,000. MML Investors Services LLC grew its holdings in shares of NICE by 238.7% in the third quarter. MML Investors Services LLC now owns 7,503 shares of the technology company’s stock worth $1,303,000 after purchasing an additional 5,288 shares during the last quarter. World Investment Advisors LLC purchased a new position in NICE in the 3rd quarter worth about $24,547,000. Finally, XTX Topco Ltd purchased a new position in NICE in the 3rd quarter worth about $647,000. Hedge funds and other institutional investors 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.