DA Davidson Issues Pessimistic Forecast for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its target price reduced by stock analysts at DA Davidson from $200.00 to $180.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective suggests a potential upside of 17.59% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald reduced their target price on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Jefferies Financial Group reissued a “hold” rating and set a $200.00 target price (down previously from $215.00) on shares of NICE in a research report on Thursday, December 19th. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of NICE in a research note on Wednesday, March 19th. Finally, Citigroup dropped their price objective on shares of NICE from $279.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and thirteen have issued 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 $228.43.

NICE Stock Performance

Shares of NICE traded up $0.46 during mid-day trading on Monday, reaching $153.07. The company had a trading volume of 188,788 shares, compared to its average volume of 638,994. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. The firm has a 50-day moving average price of $155.35 and a 200 day moving average price of $168.01. NICE has a 52 week low of $137.19 and a 52 week high of $236.48.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). The firm had revenue of $721.60 million for the quarter, compared to analysts’ expectations of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. As a group, research analysts forecast that NICE will post 9.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NICE

Institutional investors have recently bought and sold shares of the company. Avion Wealth purchased a new stake in NICE in the fourth quarter valued at $25,000. Tradewinds Capital Management LLC acquired a new position in NICE in the 4th quarter valued at about $25,000. Anchor Investment Management LLC lifted its position in shares of NICE by 200.0% during the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in NICE during the 4th quarter worth approximately $25,000. Finally, McIlrath & Eck LLC increased its position in shares of NICE by 56.9% during the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after acquiring an additional 58 shares during the period. 63.34% of the stock is owned by hedge funds and other 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.