Nice’s (NICE) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Nice (NASDAQ:NICE) in a report released on Wednesday,Benzinga reports. They currently have a $190.00 price target on the technology company’s stock.

Other research analysts also recently issued reports about the stock. DA Davidson increased their price target on shares of Nice from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Wedbush restated an “outperform” rating and issued a $200.00 price objective on shares of Nice in a research note on Friday, May 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $182.00 target price (up from $153.00) on shares of Nice in a report on Friday, June 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Nice in a report on Friday, May 16th. Finally, Citigroup reduced their price target on Nice from $214.00 to $211.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.75.

Nice Stock Performance

Nice stock opened at $162.61 on Wednesday. Nice has a one year low of $137.19 and a one year high of $200.65. The stock has a fifty day moving average of $162.36 and a 200 day moving average of $163.19. The stock has a market cap of $10.29 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Nice (NASDAQ:NICE) last released its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The firm had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. During the same quarter in the prior year, the firm earned $2.58 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Nice will post 9.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Nice

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC raised its stake in Nice by 329.9% during the 4th quarter. Sanctuary Advisors LLC now owns 5,743 shares of the technology company’s stock valued at $948,000 after purchasing an additional 4,407 shares during the period. Heritage Family Offices LLP bought a new stake in shares of Nice during the first quarter valued at approximately $584,000. Ceera Investments LLC bought a new stake in shares of Nice during the fourth quarter valued at approximately $4,963,000. Haven Capital Group Inc. purchased a new position in shares of Nice in the fourth quarter worth $5,577,000. Finally, New South Capital Management Inc. purchased a new position in shares of Nice in the fourth quarter worth $54,980,000. 63.34% of the stock is currently owned by hedge funds and other 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.