NICE (NASDAQ:NICE) Receives “Buy” Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of NICE (NASDAQ:NICE) in a research note released on Wednesday, Benzinga reports. DA Davidson currently has a $300.00 price objective on the technology company’s stock. DA Davidson also issued estimates for NICE’s Q2 2024 earnings at $2.02 EPS, FY2024 earnings at $8.44 EPS and FY2025 earnings at $9.98 EPS.

A number of other research firms also recently weighed in on NICE. Rosenblatt Securities cut their price target on shares of NICE from $285.00 to $225.00 and set a buy rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their price target on NICE from $265.00 to $230.00 and set an outperform rating for the company in a research report on Wednesday. Mizuho lowered their price objective on NICE from $300.00 to $280.00 and set a buy rating on the stock in a report on Friday, May 17th. Bank of America cut their price objective on NICE from $300.00 to $270.00 and set a buy rating on the stock in a research note on Friday, May 17th. Finally, StockNews.com raised NICE from a buy rating to a strong-buy rating in a research report on Thursday, June 6th. Fifteen research 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 $276.62.

NICE Stock Performance

Shares of NICE opened at $167.90 on Wednesday. The company has a 50-day moving average of $208.17 and a two-hundred day moving average of $216.57. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.36 and a beta of 1.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.43 and a quick ratio of 2.43. NICE has a one year low of $149.54 and a one year high of $270.73.

NICE (NASDAQ:NICE) last released its earnings results on Thursday, May 16th. The technology company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.13. NICE had a return on equity of 14.05% and a net margin of 14.92%. The company had revenue of $659.31 million for the quarter, compared to analysts’ expectations of $654.81 million. On average, equities research analysts expect that NICE will post 8.4 earnings per share for the current year.

Institutional Investors Weigh In On NICE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of NICE by 6.8% in the third quarter. Van ECK Associates Corp now owns 17,610 shares of the technology company’s stock worth $2,994,000 after acquiring an additional 1,120 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in NICE by 13.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,025 shares of the technology company’s stock worth $344,000 after purchasing an additional 234 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in NICE in the 3rd quarter valued at approximately $471,000. Black Creek Investment Management Inc. boosted its position in NICE by 22.0% in the third quarter. Black Creek Investment Management Inc. now owns 1,144,309 shares of the technology company’s stock valued at $194,533,000 after buying an additional 206,551 shares in the last quarter. Finally, Aigen Investment Management LP boosted its position in NICE by 187.5% in the third quarter. Aigen Investment Management LP now owns 5,201 shares of the technology company’s stock valued at $884,000 after buying an additional 3,392 shares in the last quarter. 63.34% of the stock is currently owned by 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.