Wedbush Reiterates “Outperform” Rating for NICE (NASDAQ:NICE)

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They currently have a $200.00 price target on the technology company’s stock. Wedbush’s price objective would suggest a potential upside of 22.38% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of NICE in a research note on Wednesday, March 19th. Morgan Stanley decreased their target price on NICE from $235.00 to $202.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. DA Davidson upped their target price on NICE from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday. Citigroup dropped their price target on NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, Rosenblatt Securities boosted their price objective on shares of NICE from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, NICE currently has an average rating of “Moderate Buy” and a consensus price target of $212.92.

NICE Stock Performance

NASDAQ:NICE opened at $163.43 on Friday. NICE has a 1 year low of $137.19 and a 1 year high of $202.36. The stock has a fifty day moving average price of $153.97 and a two-hundred day moving average price of $165.16. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.07 and a beta of 1.03.

NICE (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, May 15th. The technology company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.55). The company had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. On average, analysts predict that NICE will post 9.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in shares of NICE in the fourth quarter valued at approximately $25,000. Avion Wealth purchased a new position in shares of NICE during the 4th quarter worth $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of NICE during the fourth quarter worth $25,000. Anchor Investment Management LLC grew its position in shares of NICE by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Finally, McIlrath & Eck LLC increased its stake in NICE by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

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.