Morgan Stanley Has Lowered Expectations for Nice (NASDAQ:NICE) Stock Price

Key Points

• Morgan Stanley has lowered its price target for Nice (NASDAQ:NICE) from $202.00 to $193.00, while maintaining an "overweight" rating.
• The consensus price target for Nice’s stock from analysts is $205.25, reflecting a range of ratings from hold to buy.
• Nice reported a 9.4% increase in revenue year-over-year with earnings per share of $3.01, slightly above analyst expectations.

Nice (NASDAQ:NICE - Get Free Report) had its price objective lowered by stock analysts at Morgan Stanley from $202.00 to $193.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Morgan Stanley's target price suggests a potential upside of 50.96% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $182.00 price objective (up previously from $153.00) on shares of Nice in a research report on Friday, June 13th. Rosenblatt Securities restated a "buy" rating and issued a $190.00 price target on shares of Nice in a report on Friday. Wall Street Zen lowered shares of Nice from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Nice in a research report on Wednesday, June 18th. Finally, Citigroup dropped their price target 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. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.25.

Nice Price Performance

Shares of NASDAQ NICE opened at $127.85 on Friday. The company has a 50-day simple moving average of $161.26 and a 200-day simple moving average of $159.13. The company has a market cap of $8.09 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.34 and a beta of 0.98. Nice has a 12 month low of $127.00 and a 12 month high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last announced its earnings results on Thursday, August 14th. The technology company reported $3.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.02. The firm had revenue of $726.71 million for the quarter, compared to analyst estimates of $713.18 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. Nice's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.64 earnings per share. On average, analysts anticipate that Nice will post 9.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NICE. Ameriprise Financial Inc. grew its position in shares of Nice by 4.9% during the second quarter. Ameriprise Financial Inc. now owns 13,778 shares of the technology company's stock worth $2,327,000 after acquiring an additional 644 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in Nice by 115.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 951 shares of the technology company's stock valued at $161,000 after purchasing an additional 510 shares during the period. Quantinno Capital Management LP increased its stake in shares of Nice by 4.0% in the second quarter. Quantinno Capital Management LP now owns 21,916 shares of the technology company's stock valued at $3,702,000 after purchasing an additional 851 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Nice by 6.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,225 shares of the technology company's stock valued at $11,013,000 after purchasing an additional 3,792 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Nice by 6.6% during the second quarter. Alliancebernstein L.P. now owns 819,140 shares of the technology company's stock valued at $138,361,000 after buying an additional 50,403 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.

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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