NICE (NASDAQ:NICE) Price Target Cut to $240.00 by Analysts at Royal Bank of Canada

Posted by on May 14th, 2022

NICE (NASDAQ:NICE – Get Rating) had its target price trimmed by Royal Bank of Canada from $365.00 to $240.00 in a research report sent to investors on Friday morning, The Fly reports.

Several other equities analysts have also recently weighed in on the stock. TheStreet cut shares of NICE from a b rating to a c+ rating in a research note on Monday, March 7th. Zacks Investment Research upgraded shares of NICE from a sell rating to a hold rating in a research note on Wednesday, April 20th. Morgan Stanley lowered their price objective on shares of NICE from $315.00 to $260.00 and set an equal weight rating on the stock in a research note on Tuesday, February 22nd. StockNews.com started coverage on shares of NICE in a report on Thursday, March 31st. They issued a buy rating for the company. Finally, Jefferies Financial Group reduced their target price on shares of NICE from $260.00 to $225.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, NICE presently has a consensus rating of Buy and an average target price of $279.63.

NICE stock traded up $12.74 during mid-day trading on Friday, reaching $202.86. The stock had a trading volume of 291,643 shares, compared to its average volume of 245,649. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 2.33 and a beta of 0.85. The company has a 50-day moving average price of $211.41 and a two-hundred day moving average price of $252.31. NICE has a one year low of $179.13 and a one year high of $319.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.81 and a quick ratio of 1.81.

NICE (NASDAQ:NICE – Get Rating) last posted its earnings results on Thursday, February 17th. The technology company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.16). NICE had a net margin of 10.19% and a return on equity of 11.49%. The company had revenue of $515.50 million for the quarter, compared to the consensus estimate of $495.66 million. During the same quarter in the prior year, the company posted $1.25 EPS. NICE’s revenue was up 17.6% on a year-over-year basis. On average, equities research analysts anticipate that NICE will post 5.44 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in NICE by 48.2% during the 1st quarter. Renaissance Technologies LLC now owns 126,144 shares of the technology company’s stock valued at $27,626,000 after buying an additional 41,000 shares in the last quarter. Verition Fund Management LLC grew its holdings in NICE by 16.4% during the 1st quarter. Verition Fund Management LLC now owns 6,865 shares of the technology company’s stock valued at $1,503,000 after buying an additional 968 shares in the last quarter. Edgestream Partners L.P. grew its holdings in NICE by 668.7% during the 1st quarter. Edgestream Partners L.P. now owns 44,569 shares of the technology company’s stock valued at $9,761,000 after buying an additional 38,771 shares in the last quarter. Flow Traders U.S. LLC bought a new position in shares of NICE during the 1st quarter valued at approximately $263,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of NICE by 13.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 255,721 shares of the technology company’s stock valued at $56,003,000 after acquiring an additional 31,060 shares during the last quarter. 70.48% of the stock is owned by institutional investors and hedge funds.

NICE Company Profile (Get Rating)

NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform that supports contact centers ranging from small single sites to distributed remote agents and enterprises; Enlighten, an AI engine for CX that discovers automation opportunities for self-service; digital-entry points solutions that 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 connecting them using real time AI-based routing.

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