Citigroup Cuts NICE (NASDAQ:NICE) Price Target to $211.00

NICE (NASDAQ:NICE) had its price target trimmed by Citigroup from $214.00 to $211.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also weighed in on NICE. Morgan Stanley reduced their price target on shares of NICE from $235.00 to $202.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a report on Monday, February 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of NICE in a report on Friday, May 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $161.00 target price on shares of NICE in a report on Friday, May 16th. Finally, DA Davidson boosted their target price on shares of NICE from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, NICE presently has an average rating of “Moderate Buy” and a consensus target price of $211.50.

NICE Trading Down 2.7%

Shares of NASDAQ:NICE opened at $162.02 on Monday. The company has a 50 day moving average of $155.37 and a 200-day moving average of $165.06. The firm has a market cap of $10.25 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.07 and a beta of 1.03. NICE has a twelve month low of $137.19 and a twelve month high of $200.65.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.03. The company had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. Equities research analysts forecast that NICE will post 9.85 EPS for the current year.

Institutional Investors Weigh In On NICE

Large investors have recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in shares of NICE during the fourth quarter valued at approximately $25,000. Avion Wealth acquired a new stake in shares of NICE during the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of NICE during the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC raised 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 valued at $25,000 after acquiring an additional 100 shares during the period. Finally, McIlrath & Eck LLC raised 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 valued at $27,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

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.