Citigroup Forecasts Strong Price Appreciation for NICE (NASDAQ:NICE) Stock

NICE (NASDAQ:NICE) had its target price upped by Citigroup from $330.00 to $334.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 67.11% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. Barclays lowered their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Thursday, October 3rd. JMP Securities reiterated a “market outperform” rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Finally, Wedbush restated an “outperform” rating and issued a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $268.79.

NICE Stock Up 3.6 %

NICE traded up $6.98 on Wednesday, hitting $199.87. The company had a trading volume of 521,761 shares, compared to its average volume of 506,572. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 1.56 and a beta of 1.04. The stock has a fifty day moving average price of $171.59 and a 200-day moving average price of $178.54. NICE has a 12-month low of $151.52 and a 12-month high of $270.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. During the same quarter in the previous year, the business posted $1.63 EPS. NICE’s revenue was up 14.3% on a year-over-year basis. Analysts predict that NICE will post 8.5 EPS for the current fiscal year.

Institutional Investors Weigh In On NICE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its holdings in shares of NICE by 208.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of NICE by 135.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after buying an additional 107 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of NICE during the third quarter worth about $38,000. GAMMA Investing LLC grew its holdings in shares of NICE by 89.9% during the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after buying an additional 116 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in NICE in the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

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.