NICE (NASDAQ:NICE) Stock Price Expected to Rise, Citigroup Analyst Says

NICE (NASDAQ:NICE) had its price objective lifted by stock analysts at Citigroup from $330.00 to $334.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 67.11% from the stock’s previous close.

NICE has been the subject of a number of other research reports. Northland Securities lowered their price target on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, August 16th. JMP Securities restated a “market outperform” rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of NICE in a report on Tuesday, August 13th. Barclays dropped their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of NICE in a report on Thursday, October 3rd. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $268.79.

NICE Stock Performance

NICE stock traded up $6.98 during midday trading on Wednesday, hitting $199.87. The company’s stock had a trading volume of 521,761 shares, compared to its average volume of 506,572. The company has a 50-day moving average price of $171.59 and a two-hundred day moving average price of $178.54. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 1.56 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. NICE has a 1-year low of $151.52 and a 1-year high of $270.73.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. The company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 EPS. As a group, sell-side analysts predict that NICE will post 8.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its stake in NICE by 10.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,538 shares of the technology company’s stock worth $922,000 after purchasing an additional 344 shares during the period. QRG Capital Management Inc. bought a new stake in NICE during the 1st quarter valued at $813,000. Avantax Advisory Services Inc. purchased a new stake in NICE during the 1st quarter valued at $298,000. ProShare Advisors LLC purchased a new position in shares of NICE in the first quarter valued at about $313,000. Finally, Blair William & Co. IL increased its position in shares of NICE by 22.9% in the first quarter. Blair William & Co. IL now owns 5,873 shares of the technology company’s stock valued at $1,531,000 after acquiring an additional 1,096 shares during the period. Hedge funds and other institutional investors 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.