Nice (NASDAQ:NICE) Receives Market Outperform Rating from JMP Securities

Key Points

• NICE has been given a "market outperform" rating by JMP Securities, with a target price of $300.00, indicating an 80.87% potential upside from its previous close.
• Recent analysis shows that the stock has a consensus average rating of "Moderate Buy" with an average target price of $209.75, supported by multiple brokerages reiterating buy and outperform ratings.
• Despite recent fluctuations, NICE reported an earnings per share of $2.87, exceeding estimates, and recorded a year-over-year revenue growth of 6.2% during its last earnings report.

JMP Securities restated their market outperform rating on shares of Nice (NASDAQ:NICE - Free Report) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $300.00 price objective on the technology company's stock.

Several other equities research analysts have also issued reports on NICE. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $161.00 target price on shares of Nice in a research report on Wednesday, June 18th. Rosenblatt Securities restated a "buy" rating and set a $190.00 price target on shares of Nice in a research note on Wednesday, June 18th. Piper Sandler reiterated a "neutral" rating and issued a $182.00 price objective (up previously from $153.00) on shares of Nice in a research note on Friday, June 13th. Citigroup reduced their price objective on Nice from $214.00 to $211.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, DA Davidson began coverage on Nice in a research note on Monday. They issued a "neutral" rating and a $195.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Nice currently has a consensus rating of "Moderate Buy" and an average target price of $209.75.

Nice Stock Performance

Shares of NASDAQ NICE traded down $3.44 during trading hours on Tuesday, hitting $152.61. 745,962 shares of the stock were exchanged, compared to its average volume of 533,359. The company's fifty day simple moving average is $165.12 and its two-hundred day simple moving average is $160.33. The company has a market cap of $9.65 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00. Nice has a 1-year low of $137.19 and a 1-year high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 earnings per share 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 business had revenue of $700.19 million during the quarter, compared to the consensus estimate of $699.46 million. During the same period in the prior year, the business posted $2.58 earnings per share. Nice's quarterly revenue 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 Trading of Nice

A number of hedge funds have recently modified their holdings of the business. Anchor Investment Management LLC lifted 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 purchasing an additional 100 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Nice in the fourth quarter worth $25,000. McIlrath & Eck LLC boosted its holdings in Nice by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Nice by 99.0% in the second quarter. Richardson Financial Services Inc. now owns 199 shares of the technology company's stock worth $33,000 after acquiring an additional 99 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Nice in the 1st quarter worth about $34,000. 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.