Cantor Fitzgerald Has Lowered Expectations for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its price objective trimmed by Cantor Fitzgerald from $176.00 to $161.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

NICE has been the topic of several other research reports. Oppenheimer downgraded shares of NICE from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Rosenblatt Securities decreased their price target on shares of NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com lowered shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of NICE in a research note on Friday, November 15th. Finally, DA Davidson lowered their price target on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.60.

NICE Price Performance

NICE stock opened at $155.39 on Friday. NICE has a fifty-two week low of $147.38 and a fifty-two week high of $270.73. The firm has a fifty day moving average price of $170.08 and a two-hundred day moving average price of $172.91. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.25 and a beta of 1.06.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a return on equity of 15.31% and a net margin of 16.11%. The business had revenue of $721.60 million for the quarter, compared to analyst estimates of $718.47 million. As a group, sell-side analysts expect that NICE will post 8.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bruni J V & Co. Co. bought a new stake in shares of NICE in the 3rd quarter worth about $22,849,000. Asset Management One Co. Ltd. grew its stake in NICE by 13.5% during the third quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock worth $8,200,000 after buying an additional 5,629 shares during the last quarter. Clear Creek Financial Management LLC grew its stake in NICE by 106.5% during the fourth quarter. Clear Creek Financial Management LLC now owns 4,303 shares of the technology company’s stock worth $731,000 after buying an additional 2,219 shares during the last quarter. Kopion Asset Management LLC acquired a new stake in shares of NICE during the fourth quarter worth approximately $7,433,000. Finally, Parnassus Investments LLC raised its stake in shares of NICE by 1.5% in the third quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company’s stock valued at $89,794,000 after acquiring an additional 7,635 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.