Citigroup Has Lowered Expectations for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE) had its price objective dropped by research analysts at Citigroup from $279.00 to $228.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective suggests a potential upside of 50.44% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Rosenblatt Securities dropped their price target on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada dropped their price target on NICE from $260.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. DA Davidson dropped their price objective on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Cantor Fitzgerald dropped their price objective on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, NICE currently has an average rating of “Moderate Buy” and a consensus price target of $231.64.

NICE Trading Down 5.9 %

NICE opened at $151.56 on Monday. NICE has a 12-month low of $147.38 and a 12-month high of $270.73. The business’s fifty day simple moving average is $168.81 and its 200-day simple moving average is $172.89. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.07 and a beta of 1.06.

NICE (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a return on equity of 16.17% and a net margin of 16.18%. The firm had revenue of $721.60 million for the quarter, compared to the consensus estimate of $718.47 million. On average, equities research analysts predict that NICE will post 9.85 EPS for the current year.

Institutional Investors Weigh In On NICE

A number of large investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of NICE during the fourth quarter worth about $313,808,000. Boston Partners grew its stake in shares of NICE by 10.0% during the fourth quarter. Boston Partners now owns 1,670,327 shares of the technology company’s stock worth $283,349,000 after acquiring an additional 151,528 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its holdings in shares of NICE by 2.3% during the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,660,037 shares of the technology company’s stock worth $281,941,000 after purchasing an additional 36,865 shares during the period. HMI Capital Management L.P. lifted its holdings in shares of NICE by 12.8% during the fourth quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company’s stock worth $279,008,000 after purchasing an additional 186,600 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of NICE by 21.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after purchasing an additional 279,375 shares during the period. 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.