Rosenblatt Securities Lowers NICE (NASDAQ:NICE) Price Target to $225.00

NICE (NASDAQ:NICE) had its price objective reduced by Rosenblatt Securities from $285.00 to $225.00 in a research note published on Wednesday morning, Benzinga reports. Rosenblatt Securities currently has a buy rating on the technology company’s stock.

Several other research analysts have also commented on the company. Citigroup lifted their price target on NICE from $283.00 to $334.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Bank of America decreased their price target on NICE from $300.00 to $270.00 and set a buy rating on the stock in a research note on Friday, May 17th. Royal Bank of Canada decreased their price target on NICE from $265.00 to $230.00 and set an outperform rating on the stock in a research note on Wednesday. Jefferies Financial Group decreased their target price on NICE from $280.00 to $230.00 and set a buy rating on the stock in a research report on Friday, May 17th. Finally, JMP Securities reiterated a market outperform rating and set a $343.00 target price on shares of NICE in a research report on Wednesday, May 15th. Fifteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, NICE presently has an average rating of Buy and a consensus price target of $276.62.

NICE Stock Performance

Shares of NICE opened at $167.90 on Wednesday. The stock has a 50-day simple moving average of $208.17 and a 200-day simple moving average of $216.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.43 and a current ratio of 2.43. The stock has a market capitalization of $10.56 billion, a PE ratio of 30.31, a PEG ratio of 1.36 and a beta of 1.03. NICE has a 1 year low of $149.54 and a 1 year high of $270.73.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, May 16th. The technology company reported $2.01 earnings per share for the quarter, topping 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 business had revenue of $659.31 million for the quarter, compared to analyst estimates of $654.81 million. On average, analysts predict that NICE will post 8.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NICE

Several institutional investors have recently added to or reduced their stakes in the business. Psagot Value Holdings Ltd. Israel increased its stake in NICE by 5,255.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 6,426 shares of the technology company’s stock worth $1,282,000 after acquiring an additional 6,306 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of NICE by 34.9% in the fourth quarter. Eagle Asset Management Inc. now owns 35,717 shares of the technology company’s stock worth $7,126,000 after buying an additional 9,241 shares during the period. Corient Private Wealth LLC boosted its holdings in NICE by 93.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,317 shares of the technology company’s stock valued at $1,061,000 after purchasing an additional 2,566 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of NICE during the 4th quarter worth approximately $4,407,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of NICE during the 4th quarter worth approximately $807,000. 63.34% of the stock is currently 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.