Citigroup Issues Pessimistic Forecast for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its target price cut by investment analysts at Citigroup from $315.00 to $279.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective suggests a potential upside of 59.18% from the stock’s current price.

NICE has been the topic of several other research reports. Northland Securities dropped their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a report on Monday. Oppenheimer cut NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Piper Sandler restated a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $200.00 price target (down from $215.00) on shares of NICE in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $250.27.

NICE Stock Down 0.7 %

Shares of NASDAQ NICE traded down $1.22 during trading on Tuesday, reaching $175.27. 166,578 shares of the company traded hands, compared to its average volume of 448,190. The firm has a 50 day simple moving average of $171.67 and a 200-day simple moving average of $173.07. The stock has a market capitalization of $11.02 billion, a PE ratio of 27.13, a P/E/G ratio of 1.22 and a beta of 1.06. NICE has a 52-week low of $151.52 and a 52-week high of $270.73.

Institutional Trading of NICE

Several institutional investors and hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its holdings in NICE by 56.9% during the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Financial Perspectives Inc increased its holdings in NICE by 11.6% during the 4th quarter. Financial Perspectives Inc now owns 635 shares of the technology company’s stock worth $108,000 after purchasing an additional 66 shares during the period. Richardson Financial Services Inc. raised its position in NICE by 43.8% during the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after purchasing an additional 67 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in NICE by 5.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,428 shares of the technology company’s stock valued at $243,000 after purchasing an additional 77 shares in the last quarter. Finally, Berry Wealth Group LP lifted its holdings in shares of NICE by 5.2% in the 4th quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company’s stock worth $274,000 after buying an additional 80 shares during the period. 63.34% of the stock is currently owned by institutional investors.

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 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.