NICE (NASDAQ:NICE) Releases FY 2024 Earnings Guidance

NICE (NASDAQ:NICE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 10.950-11.150 for the period, compared to the consensus estimate of 10.730. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. NICE also updated its FY24 guidance to $10.95-11.15 EPS.

NICE Trading Down 12.0 %

Shares of NICE stock traded down $23.97 during mid-day trading on Thursday, hitting $175.20. 1,224,808 shares of the stock were exchanged, compared to its average volume of 513,586. The company has a 50-day simple moving average of $172.27 and a 200 day simple moving average of $178.68. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04. NICE has a twelve month low of $151.52 and a twelve month high of $270.73.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. The firm had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. NICE’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. Research analysts forecast that NICE will post 8.5 EPS for the current year.

Wall Street Analysts Forecast Growth

NICE has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of NICE in a report on Tuesday, August 13th. Citigroup upped their price target on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities restated a “market outperform” rating and set a $300.00 target price on shares of NICE in a research note on Friday, August 16th. Northland Securities cut their price target on shares of NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $250.00 target price on shares of NICE in a report on Friday, August 16th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $268.79.

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.