NiCE (NASDAQ:NICE) Reaches New 52-Week Low After Analyst Downgrade
NiCE (NASDAQ:NICE) hit a new 52-week low after Citizens Jmp downgraded its price target from $300 to $200. The stock traded as low as $122.31, closing at $121.86, down from $133.38. Despite the downgrade, NiCE maintains a "Moderate Buy" rating with a consensus target price of $188.75. Institutional investors own 63.34% of the stock. NiCE reported a Q3 EPS of $3.18, slightly above estimates, with revenue up 6.1% year-over-year.
NiCE (NASDAQ:NICE - Get Free Report) reached a new 52-week low during trading on Monday after Citizens Jmp lowered their price target on the stock from $300.00 to $200.00. Citizens Jmp currently has a market outperform rating on the stock. NiCE traded as low as $122.31 and last traded at $121.86, with a volume of 1505552 shares changing hands. The stock had previously closed at $133.38.
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A number of other research analysts have also commented on the stock. Morgan Stanley set a $193.00 price target on NiCE in a report on Tuesday, October 21st. Rosenblatt Securities reissued a "buy" rating and issued a $190.00 target price on shares of NiCE in a research report on Friday, August 15th. Jefferies Financial Group restated a "hold" rating and issued a $152.00 price target on shares of NiCE in a research note on Sunday, October 12th. DA Davidson dropped their price objective on shares of NiCE from $195.00 to $150.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Weiss Ratings upgraded shares of NiCE from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, November 7th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $188.75.
Read Our Latest Analysis on NICE
Institutional Inflows and Outflows
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A number of institutional investors and hedge funds have recently made changes to their positions in NICE. Richardson Financial Services Inc. grew its stake 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 buying an additional 99 shares during the last quarter. Cheviot Value Management LLC bought a new stake in NiCE during the 1st quarter worth $36,000. Tower Research Capital LLC TRC bought a new stake in NiCE during the 2nd quarter worth $40,000. Atlantic Union Bankshares Corp bought a new position in NiCE in the second quarter valued at about $60,000. Finally, Legal & General Group Plc bought a new position in NiCE in the second quarter valued at about $65,000. Institutional investors own 63.34% of the company's stock.
NiCE Stock Down 7.5%
The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.16 and a beta of 0.98. The stock has a 50 day moving average price of $137.37 and a 200 day moving average price of $150.87.
NiCE (NASDAQ:NICE - Get Free Report) last posted its earnings results on Thursday, November 13th. The technology company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.17 by $0.01. NiCE had a net margin of 18.92% and a return on equity of 17.43%. The business had revenue of $732.00 million for the quarter, compared to the consensus estimate of $728.07 million. During the same period last year, the company earned $2.88 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. NiCE has set its FY 2025 guidance at 12.180-12.320 EPS. Sell-side analysts forecast that NiCE will post 9.85 earnings per share for the current fiscal year.
NiCE Company Profile
(Get Free Report)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 enables 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.
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