NICE (NASDAQ:NICE) Given New $161.00 Price Target at Cantor Fitzgerald

NICE (NASDAQ:NICE) had its price objective lowered by equities researchers at Cantor Fitzgerald from $176.00 to $161.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 3.14% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of NICE in a report on Friday, November 15th. Northland Securities lowered their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 price target (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. DA Davidson lowered their price target on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Piper Sandler reiterated a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

NICE Price Performance

NICE stock traded up $2.51 during mid-day trading on Friday, reaching $156.10. The company had a trading volume of 625,010 shares, compared to its average volume of 572,922. NICE has a 1 year low of $147.38 and a 1 year high of $270.73. The company has a market capitalization of $9.81 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.25 and a beta of 1.06. The stock’s 50-day simple moving average is $170.71 and its 200-day simple moving average is $173.01.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a net margin of 16.11% and a return on equity of 15.31%. The company had revenue of $721.60 million during the quarter, compared to analysts’ expectations of $718.47 million. On average, equities analysts forecast that NICE will post 8.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Formidable Asset Management LLC acquired a new position in NICE during the 4th quarter valued at about $682,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in NICE during the 4th quarter valued at about $313,808,000. Vise Technologies Inc. acquired a new position in NICE during the 4th quarter valued at about $229,000. McIlrath & Eck LLC boosted its stake 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 purchasing an additional 58 shares during the period. Finally, Woodline Partners LP acquired a new position in NICE during the 4th quarter valued at about $2,881,000. 63.34% of the stock is owned by institutional investors and hedge funds.

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.