Citigroup Lowers NICE (NASDAQ:NICE) Price Target to $211.00

NICE (NASDAQ:NICE) had its target price decreased by equities research analysts at Citigroup from $214.00 to $211.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price target would suggest a potential upside of 25.33% from the company’s current price.

A number of other equities research analysts have also recently issued reports on NICE. DA Davidson boosted their target price on shares of NICE from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley reduced their target price on shares of NICE from $235.00 to $202.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wedbush reaffirmed an “outperform” rating and set a $200.00 price objective on shares of NICE in a research report on Friday. Barclays reduced their price objective on shares of NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research note on Friday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, NICE has a consensus rating of “Moderate Buy” and an average price target of $211.50.

NICE Stock Performance

NICE traded up $4.92 during trading on Monday, reaching $168.35. 461,559 shares of the stock were exchanged, compared to its average volume of 569,341. The stock has a market cap of $10.65 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. NICE has a twelve month low of $137.19 and a twelve month high of $202.36. The stock’s 50 day moving average price is $153.97 and its two-hundred day moving average price is $165.10.

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

Institutional Trading of NICE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NICE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NICE by 218.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 908,014 shares of the technology company’s stock worth $139,989,000 after buying an additional 623,014 shares during the period. Woodline Partners LP grew its position in NICE by 18.7% in the 1st quarter. Woodline Partners LP now owns 20,140 shares of the technology company’s stock valued at $3,105,000 after purchasing an additional 3,178 shares during the period. Empowered Funds LLC acquired a new stake in NICE in the 1st quarter valued at $892,000. Goldman Sachs Group Inc. grew its position in NICE by 81.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 229,813 shares of the technology company’s stock valued at $35,430,000 after purchasing an additional 103,342 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in NICE during the 1st quarter valued at $9,472,000. Institutional investors and hedge funds own 63.34% 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 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.