NICE (NASDAQ:NICE) Price Target Cut to $225.00 by Analysts at DA Davidson

NICE (NASDAQ:NICE) had its target price cut by stock analysts at DA Davidson from $300.00 to $225.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective points to a potential upside of 27.76% from the company’s previous close.

Several other equities analysts have also recently commented on NICE. Citigroup upped their price target on NICE from $330.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 target price on shares of NICE in a research report on Friday, August 16th. Northland Securities dropped their price objective on shares of NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a report on Thursday. Finally, Barclays lowered their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, NICE currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.64.

NICE Stock Down 3.3 %

Shares of NICE traded down $6.08 during midday trading on Friday, reaching $176.11. 507,274 shares of the stock were exchanged, compared to its average volume of 522,151. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.61 and a beta of 1.04. The firm has a 50 day simple moving average of $172.66 and a 200-day simple moving average of $178.70. NICE has a 12-month low of $151.52 and a 12-month high of $270.73.

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

Institutional Investors Weigh In On NICE

Institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV grew its holdings in shares of NICE by 208.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in NICE by 135.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after purchasing an additional 107 shares during the last quarter. ORG Wealth Partners LLC bought a new position in NICE during the third quarter worth about $38,000. GAMMA Investing LLC lifted its holdings in NICE by 89.9% during the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after purchasing an additional 116 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of NICE in the 2nd quarter valued at about $72,000. 63.34% of the stock is 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.