Morgan Stanley Lowers Nice (NASDAQ:NICE) Price Target to $193.00

Nice (NASDAQ:NICE) had its target price dropped by Morgan Stanley from $202.00 to $193.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 44.94% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Nice from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Nice in a report on Wednesday, June 18th. DA Davidson reduced their price objective on Nice from $195.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday. Citigroup dropped their target price on Nice from $214.00 to $211.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $161.00 price target on shares of Nice in a research note on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Nice currently has a consensus rating of “Moderate Buy” and an average price target of $205.25.

Nice Trading Up 4.2%

Shares of Nice stock opened at $133.16 on Friday. Nice has a 1 year low of $127.00 and a 1 year high of $200.65. The company has a market cap of $8.42 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.21 and a beta of 0.98. The stock has a 50-day moving average price of $160.39 and a 200 day moving average price of $158.84.

Nice (NASDAQ:NICE) last issued its earnings results on Thursday, August 14th. The technology company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.02. The company had revenue of $726.71 million for the quarter, compared to the consensus estimate of $713.18 million. Nice had a return on equity of 17.64% and a net margin of 18.92%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 EPS. On average, equities analysts forecast that Nice will post 9.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NICE. Park Square Financial Group LLC bought a new stake in Nice during the fourth quarter worth approximately $25,000. McIlrath & Eck LLC raised its position in shares of 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 period. Richardson Financial Services Inc. lifted its stake in shares of Nice by 99.0% in the second quarter. Richardson Financial Services Inc. now owns 199 shares of the technology company’s stock worth $33,000 after buying an additional 99 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Nice during the 1st quarter worth $34,000. Finally, Cheviot Value Management LLC bought a new stake in shares of Nice during the 1st quarter worth $36,000. Institutional investors and hedge funds 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.