NICE (NASDAQ:NICE) Price Target Cut to $200.00 by Analysts at Royal Bank of Canada

NICE (NASDAQ:NICE) had its price objective cut by analysts at Royal Bank of Canada from $260.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 28.72% from the company’s previous close.

A number of other analysts also recently issued reports on NICE. Cantor Fitzgerald decreased their target price on NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research report on Friday. Citigroup decreased their target price on NICE from $315.00 to $279.00 and set a “buy” rating for the company in a research report on Tuesday. Rosenblatt Securities decreased their target price on NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Friday. Barclays decreased their target price on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Northland Securities decreased their target price on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.60.

NICE Trading Up 1.2 %

Shares of NASDAQ:NICE traded up $1.78 during midday trading on Friday, reaching $155.37. The company had a trading volume of 757,840 shares, compared to its average volume of 578,473. The stock has a market cap of $9.77 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.25 and a beta of 1.06. The company’s 50 day moving average price is $170.71 and its 200 day moving average price is $173.01. NICE has a 52-week low of $147.38 and a 52-week high of $270.73.

NICE (NASDAQ:NICE) last released its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a net margin of 16.11% and a return on equity of 15.31%. The company had revenue of $721.60 million during the quarter, compared to analysts’ expectations of $718.47 million. Research analysts forecast that NICE will post 8.82 EPS for the current fiscal year.

Institutional Investors Weigh In On NICE

Several hedge funds and other institutional investors have recently modified their holdings of NICE. Formidable Asset Management LLC purchased a new position in shares of NICE during the fourth quarter worth about $682,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of NICE during the fourth quarter worth about $313,808,000. Vise Technologies Inc. purchased a new position in shares of NICE during the fourth quarter worth about $229,000. McIlrath & Eck LLC grew its holdings 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 purchasing an additional 58 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of NICE during the fourth quarter worth about $2,881,000. 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.