Royal Bank of Canada Reaffirms Outperform Rating for NICE (NASDAQ:NICE)

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $260.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 47.64% from the company’s previous close.

A number of other research firms also recently weighed in on NICE. Oppenheimer downgraded NICE from an “outperform” rating to a “market perform” rating in a research note on Friday. Piper Sandler reiterated a “neutral” rating on shares of NICE in a research report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of NICE in a report on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $250.00 price target on shares of NICE in a report on Friday, August 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.64.

NICE Stock Down 3.3 %

Shares of NASDAQ NICE traded down $6.08 during trading hours on Friday, hitting $176.11. The stock had a trading volume of 507,274 shares, compared to its average volume of 522,151. The firm’s 50-day moving average price is $172.66 and its two-hundred day moving average price is $178.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. NICE has a 52 week low of $151.52 and a 52 week high of $270.73. The company has a market capitalization of $11.07 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE) last posted its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. The business had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.63 EPS. Analysts anticipate that NICE will post 8.5 EPS for the current fiscal year.

Hedge Funds Weigh In On NICE

A number of hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its stake in NICE by 4.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company’s stock valued at $367,000 after acquiring an additional 65 shares in the last quarter. Aurora Investment Counsel boosted its holdings in shares of NICE by 0.7% during the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock worth $1,876,000 after purchasing an additional 80 shares during the last quarter. Financial Perspectives Inc increased its position in NICE by 17.8% during the second quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock worth $98,000 after purchasing an additional 86 shares during the last quarter. Mendota Financial Group LLC lifted its stake in shares of NICE by 11.4% in the 3rd quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock valued at $146,000 after purchasing an additional 86 shares in the last quarter. Finally, Legacy Advisors LLC raised its position in NICE by 1.3% in the second quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company’s stock valued at $1,148,000 after purchasing an additional 88 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.