DA Davidson Issues Pessimistic Forecast for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its price target lowered by DA Davidson from $300.00 to $225.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock. DA Davidson also issued estimates for NICE’s FY2024 earnings at $8.81 EPS.

Several other equities research analysts have also recently weighed in on the company. Citigroup upped their price target on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of NICE in a research report on Tuesday, August 13th. Oppenheimer cut shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday. Barclays lowered their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Performance

NICE stock opened at $173.83 on Friday. NICE has a fifty-two week low of $151.52 and a fifty-two week high of $270.73. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.40 and a beta of 1.04. The stock’s 50 day simple moving average is $173.17 and its two-hundred day simple moving average is $177.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45.

Institutional Trading of NICE

Several large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in shares of NICE by 4.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company’s stock valued at $367,000 after acquiring an additional 65 shares during the period. Aurora Investment Counsel lifted its holdings in NICE by 0.7% during the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 80 shares in the last quarter. Financial Perspectives Inc boosted its position in shares of NICE by 17.8% in the second quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock worth $98,000 after purchasing an additional 86 shares during the period. Mendota Financial Group LLC increased its stake in shares of NICE by 11.4% in the third quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock worth $146,000 after purchasing an additional 86 shares in the last quarter. Finally, Legacy Advisors LLC raised its position in shares of NICE by 1.3% during the 2nd quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company’s stock valued at $1,148,000 after purchasing an additional 88 shares during the period. 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.