Royal Bank of Canada Reiterates “Outperform” Rating for NICE (NASDAQ:NICE)

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They presently have a $260.00 price target on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 50.62% from the stock’s current price.

Several other equities research analysts have also commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of NICE in a research note on Tuesday, August 13th. Wedbush restated an “outperform” rating and issued a $250.00 price target on shares of NICE in a research report on Friday, August 16th. Northland Securities decreased their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays cut their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Piper Sandler restated a “neutral” rating on shares of NICE in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $260.57.

NICE Trading Down 5.3 %

NICE stock opened at $172.62 on Friday. NICE has a 52-week low of $151.52 and a 52-week high of $270.73. The company has a market cap of $10.85 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.61 and a beta of 1.04. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $172.93 and a two-hundred day simple moving average of $178.02.

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, beating 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 company had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. During the same period in the previous year, the business posted $1.63 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts predict that NICE will post 8.5 EPS for the current year.

Hedge Funds Weigh In On NICE

Institutional investors have recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in shares of NICE during the 2nd quarter valued at approximately $516,000. Diversified Trust Co raised its stake in NICE by 237.9% during the second quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 4,561 shares in the last quarter. Capital World Investors bought a new position in NICE during the first quarter valued at $9,699,000. Asset Management One Co. Ltd. grew its stake in shares of NICE by 13.5% in the 3rd 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 in the last quarter. Finally, Osborne Partners Capital Management LLC increased its holdings in shares of NICE by 6.4% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 67,821 shares of the technology company’s stock worth $11,778,000 after buying an additional 4,080 shares during the last quarter. Hedge funds and other 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.