NICE Ltd. (NASDAQ:NICE – Free Report) – Equities researchers at DA Davidson increased their FY2023 earnings estimates for shares of NICE in a research report issued on Friday, November 17th. DA Davidson analyst G. Luria now forecasts that the technology company will post earnings of $6.76 per share for the year, up from their previous estimate of $6.56. DA Davidson currently has a “Neutral” rating and a $190.00 price target on the stock. The consensus estimate for NICE’s current full-year earnings is $6.50 per share. DA Davidson also issued estimates for NICE’s Q4 2023 earnings at $1.83 EPS.
Several other research firms also recently commented on NICE. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $238.00 target price on shares of NICE in a report on Friday. Morgan Stanley upgraded NICE from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $225.00 to $220.00 in a report on Monday, October 16th. TheStreet cut NICE from a “b-” rating to a “c+” rating in a report on Tuesday, September 12th. Finally, Citigroup increased their target price on NICE from $278.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.00.
NICE Stock Performance
Shares of NICE stock opened at $195.15 on Monday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 39.66, a price-to-earnings-growth ratio of 2.36 and a beta of 0.89. The stock’s 50-day moving average is $168.43 and its 200-day moving average is $191.72. NICE has a one year low of $149.54 and a one year high of $231.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.31 and a quick ratio of 2.31.
NICE (NASDAQ:NICE – Get Free Report) last posted its quarterly earnings results on Thursday, November 16th. The technology company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.12. The firm had revenue of $601.30 million during the quarter, compared to analyst estimates of $595.00 million. NICE had a net margin of 14.11% and a return on equity of 13.17%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in NICE by 13.2% during the second quarter. Janney Montgomery Scott LLC now owns 3,758 shares of the technology company’s stock worth $776,000 after purchasing an additional 439 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in NICE by 38.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,790 shares of the technology company’s stock valued at $989,000 after acquiring an additional 1,328 shares during the last quarter. Moors & Cabot Inc. boosted its stake in NICE by 3.1% in the first quarter. Moors & Cabot Inc. now owns 1,784 shares of the technology company’s stock valued at $408,000 after acquiring an additional 54 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in NICE by 1.8% in the second quarter. Asset Management One Co. Ltd. now owns 93,475 shares of the technology company’s stock valued at $19,271,000 after acquiring an additional 1,671 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in NICE by 4.6% in the first quarter. Stephens Investment Management Group LLC now owns 35,717 shares of the technology company’s stock valued at $8,175,000 after acquiring an additional 1,573 shares during the last quarter. 63.58% of the stock is currently owned by hedge funds and other institutional investors.
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 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.
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