Rosenblatt Securities Initiates Coverage on NICE (NASDAQ:NICE)

Equities researchers at Rosenblatt Securities initiated coverage on shares of NICE (NASDAQ:NICE) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $285.00 price target on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 23.53% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Mizuho lifted their target price on NICE from $244.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada boosted their price objective on NICE from $238.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $343.00 price objective on shares of NICE in a report on Friday, February 23rd. Northland Securities initiated coverage on NICE in a report on Tuesday, January 30th. They set an “outperform” rating and a $300.00 price objective for the company. Finally, DA Davidson upgraded NICE from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a report on Wednesday, March 13th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $291.00.

NICE Trading Up 1.0 %

Shares of NASDAQ:NICE opened at $230.71 on Tuesday. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 2.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.06. The stock’s 50-day simple moving average is $241.39 and its two-hundred day simple moving average is $208.92. NICE has a 52-week low of $149.54 and a 52-week high of $270.73.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.10. The firm had revenue of $623.20 million for the quarter, compared to analysts’ expectations of $616.83 million. NICE had a return on equity of 13.29% and a net margin of 14.23%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. Analysts expect that NICE will post 8.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NICE. GAMMA Investing LLC acquired a new position in NICE during the 4th quarter valued at about $25,000. Lindbrook Capital LLC increased its position in NICE by 88.9% during the 4th quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock valued at $27,000 after buying an additional 64 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of NICE in the fourth quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of NICE in the third quarter valued at about $37,000. Finally, Principal Securities Inc. acquired a new position in shares of NICE in the fourth quarter valued at about $64,000. 63.34% of the stock is owned by institutional investors and hedge funds.

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 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.