NICE (NASDAQ:NICE) Updates FY24 Earnings Guidance

NICE (NASDAQ:NICE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.95-11.15 for the period, compared to the consensus earnings per share estimate of $10.73. The company issued revenue guidance of $2.72-2.74 billion, compared to the consensus revenue estimate of $2.73 billion. NICE also updated its FY 2024 guidance to 10.950-11.150 EPS.

NICE Stock Down 8.5 %

Shares of NASDAQ NICE opened at $182.19 on Friday. The stock has a market cap of $11.45 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. NICE has a 52-week low of $151.52 and a 52-week high of $270.73. The business has a 50-day moving average price of $172.66 and a 200 day moving average price of $178.70. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. During the same period last year, the business posted $1.63 EPS. The company’s revenue was up 14.3% on a year-over-year basis. Equities research analysts forecast that NICE will post 8.5 earnings per share for the current year.

Analysts Set New Price Targets

NICE has been the topic of several analyst reports. Northland Securities decreased their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and set a $250.00 price objective on shares of NICE in a research note on Friday, August 16th. Barclays cut their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price target on shares of NICE in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.00.

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.