NICE (NASDAQ:NICE) Price Target Lowered to $200.00 at Royal Bank of Canada

NICE (NASDAQ:NICE) had its price target dropped by stock analysts at Royal Bank of Canada from $260.00 to $200.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 28.71% from the stock’s previous close.

Several other research firms have also recently issued reports on NICE. DA Davidson decreased their target price on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. StockNews.com cut shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Barclays decreased their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 price target (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Finally, Citigroup reduced their price target on shares of NICE from $315.00 to $279.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, NICE currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.60.

NICE Price Performance

NICE stock opened at $155.39 on Friday. The firm’s 50-day moving average is $170.08 and its two-hundred day moving average is $172.95. NICE has a 12-month low of $147.38 and a 12-month high of $270.73. The stock has a market capitalization of $9.77 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.07 and a beta of 1.06.

NICE (NASDAQ:NICE) last released its earnings results on Thursday, February 20th. 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 16.17% and a net margin of 16.18%. The company had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. As a group, analysts forecast that NICE will post 9.85 EPS for the current year.

Institutional Trading of NICE

A number of hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC purchased a new stake in shares of NICE during the fourth quarter valued at approximately $682,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of NICE during the fourth quarter valued at approximately $313,808,000. Vise Technologies Inc. purchased a new stake in shares of NICE during the fourth quarter valued at approximately $229,000. McIlrath & Eck LLC raised its stake in shares of NICE by 56.9% during the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of NICE during the fourth quarter valued at approximately $2,881,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

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.