NICE (NASDAQ:NICE) Updates FY 2022 Earnings Guidance

Posted by on Jun 2nd, 2022

NICE (NASDAQ:NICE – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.25-$7.45 for the period, compared to the consensus estimate of $7.19. The company issued revenue guidance of $2.16 billion-$2.18 billion, compared to the consensus revenue estimate of $2.15 billion.NICE also updated its Q2 2022 guidance to $1.75-$1.85 EPS.

NICE stock opened at $197.96 on Thursday. The stock has a 50-day simple moving average of $206.35 and a 200 day simple moving average of $244.04. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.16. NICE has a 12-month low of $179.13 and a 12-month high of $319.88. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 65.99, a P/E/G ratio of 2.64 and a beta of 0.86.

NICE (NASDAQ:NICE – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The technology company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). NICE had a net margin of 10.10% and a return on equity of 11.43%. The business had revenue of $527.43 million during the quarter, compared to the consensus estimate of $510.64 million. As a group, sell-side analysts anticipate that NICE will post 5.41 EPS for the current year.

Several equities analysts have recently issued reports on NICE shares. TheStreet lowered NICE from a b rating to a c+ rating in a research report on Monday, March 7th. Royal Bank of Canada cut their target price on NICE from $365.00 to $240.00 in a research note on Friday, May 13th. Morgan Stanley cut their target price on NICE from $315.00 to $260.00 and set an equal weight rating on the stock in a research note on Tuesday, February 22nd. Zacks Investment Research upgraded NICE from a sell rating to a hold rating in a research note on Wednesday, April 20th. Finally, Jefferies Financial Group dropped their price objective on NICE from $260.00 to $225.00 in a research note on Thursday, May 12th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and an average price target of $277.29.

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of NICE by 63.7% in the third quarter. Bank of New York Mellon Corp now owns 11,794 shares of the technology company’s stock valued at $3,350,000 after purchasing an additional 4,591 shares in the last quarter. Geode Capital Management LLC raised its position in NICE by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 75,798 shares of the technology company’s stock valued at $23,012,000 after purchasing an additional 195 shares during the last quarter. Barclays PLC grew its holdings in shares of NICE by 63.2% during the 4th quarter. Barclays PLC now owns 22,083 shares of the technology company’s stock worth $6,704,000 after acquiring an additional 8,555 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of NICE by 6.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 78,090 shares of the technology company’s stock worth $23,708,000 after acquiring an additional 4,446 shares during the period. Finally, LPL Financial LLC grew its stake in shares of NICE by 59.9% in the 4th quarter. LPL Financial LLC now owns 6,307 shares of the technology company’s stock worth $1,915,000 after buying an additional 2,363 shares during the last quarter. 70.48% of the stock is owned by hedge funds and other institutional investors.

About NICE (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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