NICE (NASDAQ:NICE) Price Target Cut to $226.00 by Analysts at Barclays

NICE (NASDAQ:NICE) had its price objective cut by investment analysts at Barclays from $286.00 to $226.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 47.14% from the company’s previous close.

Several other equities research analysts have also recently issued reports on NICE. Oppenheimer cut shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Rosenblatt Securities dropped their price target on shares of NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday. Cantor Fitzgerald initiated coverage on shares of NICE in a research note on Friday, January 17th. They set a “neutral” rating and a $176.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of NICE in a research note on Friday, November 15th. Finally, Citigroup dropped their price target on shares of NICE from $315.00 to $279.00 and set a “buy” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.60.

NICE Trading Down 14.0 %

Shares of NICE stock opened at $153.59 on Friday. NICE has a 12-month low of $147.38 and a 12-month high of $270.73. The firm’s 50 day moving average is $170.71 and its 200 day moving average is $173.01. The stock has a market capitalization of $9.66 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.25 and a beta of 1.06.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, February 27th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a return on equity of 15.31% and a net margin of 16.11%. As a group, equities analysts predict that NICE will post 8.82 earnings per share for the current year.

Hedge Funds Weigh In On NICE

Institutional investors and hedge funds have recently modified their holdings of the stock. Avion Wealth purchased a new position in shares of NICE in the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC purchased a new position in shares of NICE in the 4th quarter worth approximately $25,000. Anchor Investment Management LLC boosted its holdings in shares of NICE by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Creative Financial Designs Inc. ADV boosted 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 worth $26,000 after purchasing an additional 100 shares during the period. Finally, McIlrath & Eck LLC boosted its holdings in shares of NICE by 56.9% in the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after purchasing an additional 58 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.