NICE (NASDAQ:NICE) Price Target Cut to $200.00 by Analysts at Royal Bank of Canada

NICE (NASDAQ:NICE) had its price objective cut by research analysts at Royal Bank of Canada from $260.00 to $200.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 28.72% from the company’s current price.

Other analysts have also issued research reports about the company. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday. Jefferies Financial Group reissued a “hold” rating and set a $200.00 price objective (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Cantor Fitzgerald dropped their price objective on NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research note on Friday. Rosenblatt Securities decreased their target price on NICE from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday. Finally, DA Davidson decreased their target price on NICE from $300.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.60.

NICE Stock Performance

NICE traded up $1.78 during midday trading on Friday, hitting $155.37. The stock had a trading volume of 757,840 shares, compared to its average volume of 578,473. The company has a market cap of $9.77 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. The business has a fifty day moving average of $170.71 and a 200 day moving average of $173.01. NICE has a 1 year low of $147.38 and a 1 year high of $270.73.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). The firm had revenue of $721.60 million during the quarter, compared to analysts’ expectations of $718.47 million. NICE had a return on equity of 15.31% and a net margin of 16.11%. On average, equities research analysts anticipate that NICE will post 8.82 earnings per share for the current year.

Institutional Trading of NICE

A number of hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of NICE during the 4th quarter valued at $313,808,000. Boston Partners raised its stake in NICE by 10.0% during the fourth quarter. Boston Partners now owns 1,670,327 shares of the technology company’s stock valued at $283,349,000 after buying an additional 151,528 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its stake in NICE by 2.3% during the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,660,037 shares of the technology company’s stock valued at $281,941,000 after buying an additional 36,865 shares during the last quarter. HMI Capital Management L.P. raised its stake in NICE by 12.8% during the fourth quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company’s stock valued at $279,008,000 after buying an additional 186,600 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in NICE by 21.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock valued at $273,642,000 after buying an additional 279,375 shares during the last quarter. 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.