JMP Securities Reaffirms "Market Outperform" Rating for Nice (NASDAQ:NICE)

Nice (NASDAQ:NICE - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at JMP Securities in a research report issued on Wednesday,Benzinga reports. They presently have a $300.00 target price on the technology company's stock. JMP Securities' price objective indicates a potential upside of 80.98% from the stock's previous close.

Several other research firms have also recently commented on NICE. Citigroup dropped their target price on shares of Nice from $214.00 to $211.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Rosenblatt Securities restated a "buy" rating and issued a $190.00 price objective on shares of Nice in a report on Wednesday. DA Davidson lifted their price objective on Nice from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Barclays decreased their target price on Nice from $286.00 to $226.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Piper Sandler restated a "neutral" rating and issued a $182.00 target price (up previously from $153.00) on shares of Nice in a research note on Friday, June 13th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $208.92.

Nice Price Performance

NICE opened at $165.76 on Wednesday. Nice has a one year low of $137.19 and a one year high of $200.65. The business has a 50 day simple moving average of $161.60 and a two-hundred day simple moving average of $163.47. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.52 and a beta of 1.01.

Nice (NASDAQ:NICE - Get Free Report) last announced its earnings results on Thursday, May 15th. The technology company reported $2.87 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 during the quarter, compared to the consensus estimate of $699.46 million. During the same quarter in the prior year, the company earned $2.58 earnings per share. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Nice will post 9.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NICE. Rhumbline Advisers boosted its stake in Nice by 4.1% during the 1st quarter. Rhumbline Advisers now owns 3,892 shares of the technology company's stock valued at $600,000 after purchasing an additional 152 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in Nice during the 1st quarter valued at about $72,000. Strs Ohio purchased a new stake in shares of Nice during the 1st quarter valued at about $6,668,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Nice by 218.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 908,014 shares of the technology company's stock worth $139,989,000 after purchasing an additional 623,014 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Nice by 18.7% in the 1st quarter. Woodline Partners LP now owns 20,140 shares of the technology company's stock worth $3,105,000 after buying an additional 3,178 shares during the last quarter. Institutional investors 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.

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