Morgan Stanley Issues Pessimistic Forecast for Nice (NASDAQ:NICE) Stock Price

Nice (NASDAQ:NICE) had its price objective reduced by Morgan Stanley from $202.00 to $193.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 44.94% from the stock’s previous close.

A number of other analysts also recently weighed in on NICE. Wedbush reissued an “outperform” rating and issued a $200.00 price target on shares of Nice in a report on Friday, June 20th. Piper Sandler reiterated a “neutral” rating and issued a $182.00 target price (up previously from $153.00) on shares of Nice in a research note on Friday, June 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $161.00 target price on shares of Nice in a research report on Wednesday, June 18th. JMP Securities restated a “market outperform” rating and set a $300.00 price target on shares of Nice in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nice in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Nice presently has a consensus rating of “Moderate Buy” and an average price target of $205.25.

Nice Stock Up 4.2%

NICE opened at $133.16 on Friday. The stock’s 50 day moving average price is $160.39 and its two-hundred day moving average price is $158.84. The firm has a market capitalization of $8.42 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.21 and a beta of 0.98. Nice has a 12-month low of $127.00 and a 12-month high of $200.65.

Nice (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, August 14th. The technology company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.02. The company had revenue of $726.71 million during the quarter, compared to analysts’ expectations of $713.18 million. Nice had a return on equity of 17.64% and a net margin of 18.92%. Nice’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 earnings per share. As a group, analysts anticipate that Nice will post 9.85 earnings per share for the current year.

Institutional Investors Weigh In On Nice

Institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new position in shares of Nice in the 4th quarter worth approximately $25,000. McIlrath & Eck LLC grew its position in 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 acquiring an additional 58 shares during the period. Richardson Financial Services Inc. grew its position in Nice by 99.0% in the second quarter. Richardson Financial Services Inc. now owns 199 shares of the technology company’s stock valued at $33,000 after acquiring an additional 99 shares during the period. NBC Securities Inc. acquired a new position in Nice during the first quarter worth $34,000. Finally, Cheviot Value Management LLC bought a new position in shares of Nice during the first quarter valued at $36,000. 63.34% of the stock is owned by institutional investors and hedge funds.

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.