Nice (NASDAQ:NICE) Stock Price Expected to Rise, DA Davidson Analyst Says

Nice (NASDAQ:NICE - Free Report) had its price target hoisted by DA Davidson from $185.00 to $195.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other research analysts have also issued reports on NICE. Cantor Fitzgerald reissued a "neutral" rating and set a $161.00 target price on shares of Nice in a research note on Wednesday, June 18th. Rosenblatt Securities reaffirmed a "buy" rating and set a $190.00 price target on shares of Nice in a report on Wednesday, June 18th. Barclays decreased their price objective on Nice from $286.00 to $226.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Wedbush reaffirmed an "outperform" rating and set a $200.00 target price on shares of Nice in a research note on Friday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Nice in a research report on Wednesday, June 18th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.75.

Nice Stock Performance

Shares of Nice stock traded down $0.05 on Friday, reaching $162.56. 532,004 shares of the company were exchanged, compared to its average volume of 524,970. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.48 and a beta of 1.01. Nice has a 1-year low of $137.19 and a 1-year high of $200.65. The company's 50-day moving average is $162.56 and its two-hundred day moving average is $162.60.

Nice (NASDAQ:NICE - Get Free Report) last posted its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.03. Nice had a return on equity of 16.37% and a net margin of 16.77%. The company had revenue of $700.19 million for the quarter, compared to analysts' expectations of $699.46 million. During the same period last year, the business posted $2.58 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Nice will post 9.85 earnings per share for the current year.

Hedge Funds Weigh In On Nice

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC lifted its stake in Nice by 329.9% during the fourth quarter. Sanctuary Advisors LLC now owns 5,743 shares of the technology company's stock valued at $948,000 after buying an additional 4,407 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in shares of Nice during the first quarter valued at approximately $584,000. Ceera Investments LLC purchased a new stake in shares of Nice in the 4th quarter valued at approximately $4,963,000. Haven Capital Group Inc. purchased a new stake in shares of Nice in the 4th quarter valued at approximately $5,577,000. Finally, New South Capital Management Inc. acquired a new position in Nice in the 4th quarter worth approximately $54,980,000. 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.