NICE (NASDAQ:NICE) Releases FY23 Earnings Guidance

NICE (NASDAQ:NICE) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $8.58-8.78 for the period, compared to the consensus estimate of $8.52. The company issued revenue guidance of $2.36-2.38 billion, compared to the consensus revenue estimate of $2.36 billion.

NICE Stock Up 9.0 %

Shares of NICE stock opened at $195.15 on Friday. The stock has a market cap of $12.42 billion, a P/E ratio of 42.42, a PEG ratio of 2.16 and a beta of 0.89. NICE has a 52 week low of $149.54 and a 52 week high of $231.54. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $168.13 and its two-hundred day simple moving average is $191.79.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, November 16th. The technology company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.12. The firm had revenue of $601.30 million for the quarter, compared to analysts’ expectations of $595.00 million. NICE had a net margin of 13.48% and a return on equity of 12.80%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. Analysts predict that NICE will post 6.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on NICE. StockNews.com downgraded shares of NICE from a strong-buy rating to a buy rating in a report on Friday, November 3rd. Royal Bank of Canada reissued an outperform rating and set a $238.00 target price on shares of NICE in a research report on Thursday, October 5th. Morgan Stanley raised shares of NICE from an equal weight rating to an overweight rating and decreased their target price for the company from $225.00 to $220.00 in a research report on Monday, October 16th. William Blair initiated coverage on shares of NICE in a research report on Wednesday, July 26th. They set an outperform rating for the company. Finally, Oppenheimer decreased their price target on shares of NICE from $250.00 to $225.00 and set an outperform rating for the company in a report on Thursday, October 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, NICE currently has a consensus rating of Moderate Buy and an average target price of $249.00.

Institutional Trading of NICE

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Partners II LLC acquired a new stake in NICE during the fourth quarter valued at $294,000. Seven Eight Capital LP acquired a new stake in NICE during the first quarter valued at $264,000. Flow Traders U.S. LLC acquired a new stake in NICE during the first quarter valued at $263,000. Prudential Financial Inc. grew its position in NICE by 62.3% during the first quarter. Prudential Financial Inc. now owns 1,201 shares of the technology company’s stock valued at $263,000 after buying an additional 461 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in NICE by 25.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,542 shares of the technology company’s stock valued at $262,000 after buying an additional 316 shares during the period. Institutional investors and hedge funds own 63.58% of the company’s stock.

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 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 connects them using real time AI-based routing.