Rosenblatt Securities Initiates Coverage on NICE (NASDAQ:NICE)

Equities researchers at Rosenblatt Securities started coverage on shares of NICE (NASDAQ:NICE) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $285.00 price target on the technology company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 23.53% from the company’s current price.

Several other brokerages also recently issued reports on NICE. DA Davidson raised NICE from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a report on Wednesday, March 13th. Citigroup raised their price target on NICE from $283.00 to $334.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $343.00 price target on shares of NICE in a report on Friday, February 23rd. Wedbush raised their price target on NICE from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada raised their price target on NICE from $238.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NICE has a consensus rating of “Buy” and a consensus price target of $291.00.

NICE Trading Up 1.0 %

NASDAQ:NICE opened at $230.71 on Tuesday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $241.39 and its two-hundred day moving average is $208.92. NICE has a 52 week low of $149.54 and a 52 week high of $270.73. The company has a market cap of $14.50 billion, a PE ratio of 45.33, a P/E/G ratio of 2.02 and a beta of 1.02.

NICE (NASDAQ:NICE) last released its earnings results on Thursday, February 22nd. The technology company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. NICE had a return on equity of 13.29% and a net margin of 14.23%. The company had revenue of $623.20 million for the quarter, compared to the consensus estimate of $616.83 million. During the same quarter last year, the business posted $1.40 EPS. NICE’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that NICE will post 8.21 EPS for the current year.

Hedge Funds Weigh In On NICE

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of NICE during the 4th quarter worth $25,000. Lindbrook Capital LLC boosted its stake in shares of NICE by 88.9% during the 4th quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock worth $27,000 after acquiring an additional 64 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of NICE during the 4th quarter worth $29,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of NICE during the 3rd quarter worth $37,000. Finally, Principal Securities Inc. bought a new stake in shares of NICE during the 4th quarter worth $64,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.