NICE (NASDAQ:NICE) Price Target Cut to $228.00 by Analysts at Citigroup

NICE (NASDAQ:NICE) had its price objective reduced by equities researchers at Citigroup from $279.00 to $228.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 41.43% from the stock’s previous close.

NICE has been the subject of a number of other reports. Piper Sandler restated a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. Royal Bank of Canada lowered their target price on shares of NICE from $260.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Northland Securities dropped their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price objective (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Finally, Barclays dropped their target price on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.64.

NICE Price Performance

Shares of NICE stock traded up $5.83 during trading hours on Monday, reaching $161.22. The company’s stock had a trading volume of 333,520 shares, compared to its average volume of 589,853. The firm has a 50 day moving average price of $170.08 and a 200-day moving average price of $173.01. The stock has a market cap of $10.14 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.07 and a beta of 1.06. NICE has a one year low of $147.38 and a one year high of $270.73.

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 the consensus estimate of $2.96 by ($0.71). The company had revenue of $721.60 million for the quarter, compared to the consensus estimate of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. As a group, sell-side analysts forecast that NICE will post 9.85 EPS for the current fiscal year.

Institutional Trading of NICE

A number of hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC boosted its holdings in NICE by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Financial Perspectives Inc raised its position in shares of NICE by 11.6% in the 4th quarter. Financial Perspectives Inc now owns 635 shares of the technology company’s stock valued at $108,000 after purchasing an additional 66 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in NICE by 5.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,428 shares of the technology company’s stock worth $243,000 after purchasing an additional 77 shares in the last quarter. Finally, Berry Wealth Group LP grew its position in NICE by 5.2% during the 4th quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company’s stock worth $274,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other 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.