Nice's (NICE) "Buy" Rating Reiterated at Rosenblatt Securities

Key Points

• Rosenblatt Securities has reaffirmed a "buy" rating for Nice (NICE) with a target price of $190.00, suggesting a potential upside of 48.61% from its current price.
• Despite the positive outlook from some brokerages, Nice's stock is currently trading down by 13.6%, opening at $127.85 as of the last report.
• During its recent earnings report, Nice surpassed expectations with $3.01 EPS and a revenue of $726.71 million, indicating a year-over-year growth of 9.4%.

Nice (NASDAQ:NICE - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Rosenblatt Securities in a note issued to investors on Friday,Benzinga reports. They currently have a $190.00 target price on the technology company's stock. Rosenblatt Securities' price target would suggest a potential upside of 48.61% from the stock's current price.

Several other brokerages have also commented on NICE. Wedbush reissued an "outperform" rating and set a $200.00 price target on shares of Nice in a research note on Friday, June 20th. Citigroup decreased their price target on Nice from $214.00 to $211.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $161.00 target price on shares of Nice in a research note on Wednesday, June 18th. Wall Street Zen lowered Nice from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Piper Sandler reaffirmed 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. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.00.

Nice Trading Down 13.6%

Shares of NICE opened at $127.85 on Friday. The stock's 50 day moving average is $161.26 and its two-hundred day moving average is $159.13. The firm has a market capitalization of $8.09 billion, a PE ratio of 17.83, a P/E/G ratio of 1.34 and a beta of 0.98. Nice has a twelve month low of $127.00 and a twelve month high of $200.65.

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

Institutional Trading of Nice

A number of institutional investors and hedge funds have recently made changes to their positions in NICE. Park Square Financial Group LLC acquired a new stake in shares of Nice during the 4th quarter worth $25,000. McIlrath & Eck LLC increased its holdings in Nice by 56.9% in the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in Nice by 99.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 199 shares of the technology company's stock valued at $33,000 after purchasing an additional 99 shares in the last quarter. NBC Securities Inc. acquired a new stake in Nice in the 1st quarter valued at $34,000. Finally, Cheviot Value Management LLC acquired a new stake in Nice in the 1st quarter valued at $36,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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