NICE (NASDAQ:NICE) Reaches New 52-Week Low on Disappointing Earnings

NICE Ltd. (NASDAQ:NICE)’s share price hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $150.61 and last traded at $150.49, with a volume of 1003255 shares trading hands. The stock had previously closed at $178.50.

The technology company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.71). The business had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. NICE had a return on equity of 15.31% and a net margin of 16.11%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer downgraded shares of NICE from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. DA Davidson dropped their price target on shares of NICE from $300.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Jefferies Financial Group reiterated a “hold” rating and set a $200.00 target price (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Piper Sandler reiterated a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. Finally, Citigroup lowered their target price on shares of NICE from $315.00 to $279.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.60.

Institutional Investors Weigh In On NICE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV lifted its position in NICE by 208.3% in the third 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 last quarter. Avion Wealth purchased a new stake in NICE in the fourth quarter valued at $25,000. Tradewinds Capital Management LLC purchased a new stake in shares of NICE in the fourth quarter valued at about $25,000. Anchor Investment Management LLC raised its holdings in shares of NICE by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Finally, McIlrath & Eck LLC raised its holdings in shares of NICE by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

NICE Stock Up 1.2 %

The business’s fifty day moving average price is $170.08 and its 200 day moving average price is $172.91. The firm has a market capitalization of $9.77 billion, a PE ratio of 24.05, a PEG ratio of 1.25 and a beta of 1.06.

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.