JMP Securities Reiterates “Market Outperform” Rating for Nice (NASDAQ:NICE)

Nice (NASDAQ:NICE)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports. They presently have a $300.00 target price on the technology company’s stock. JMP Securities’ target price would indicate a potential upside of 86.22% from the stock’s previous close.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Nice from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Royal Bank Of Canada restated an “outperform” rating and set a $200.00 price target on shares of Nice in a research report on Wednesday, June 18th. Cantor Fitzgerald restated a “neutral” rating and set a $161.00 price target on shares of Nice in a research report on Wednesday, June 18th. Rosenblatt Securities restated a “buy” rating and set a $190.00 price target on shares of Nice in a research report on Wednesday, June 18th. Finally, DA Davidson initiated coverage on Nice in a research note on Monday. They issued a “neutral” rating and a $195.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.75.

Nice Stock Performance

Shares of Nice stock opened at $161.10 on Tuesday. Nice has a fifty-two week low of $137.19 and a fifty-two week high of $200.65. The stock has a 50 day moving average of $165.23 and a 200 day moving average of $160.39. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 1.49 and a beta of 1.00.

Nice (NASDAQ:NICE) last released its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.84 by $0.03. Nice had a return on equity of 16.37% and a net margin of 16.77%. The business had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. During the same period last year, the business posted $2.58 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts forecast that Nice will post 9.85 EPS for the current year.

Hedge Funds Weigh In On Nice

Hedge funds have recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Nice during the fourth quarter worth about $25,000. Anchor Investment Management LLC grew its holdings in shares of Nice by 200.0% during the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. McIlrath & Eck LLC grew its holdings in shares of Nice by 56.9% during the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Nice by 99.0% during the second quarter. Richardson Financial Services Inc. now owns 199 shares of the technology company’s stock worth $33,000 after purchasing an additional 99 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Nice during the first quarter worth about $34,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

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.