DA Davidson Has Positive Forecast for NICE FY2024 Earnings

NICE Ltd. (NASDAQ:NICE - Free Report) - Equities researchers at DA Davidson increased their FY2024 earnings per share (EPS) estimates for shares of NICE in a note issued to investors on Friday, November 15th. DA Davidson analyst G. Luria now anticipates that the technology company will earn $8.81 per share for the year, up from their previous estimate of $8.49. DA Davidson currently has a "Buy" rating and a $225.00 target price on the stock. The consensus estimate for NICE's current full-year earnings is $8.58 per share.

NICE (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.06. The company had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. NICE had a return on equity of 15.48% and a net margin of 16.11%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 target price on shares of NICE in a report on Friday. Barclays dropped their target price on shares of NICE from $320.00 to $286.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th. Northland Securities dropped their target price on shares of NICE from $275.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Finally, Oppenheimer downgraded shares of NICE from an "outperform" rating to a "market perform" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $260.57.

NICE Stock Performance

NASDAQ:NICE traded up $1.14 during mid-day trading on Monday, hitting $173.76. The stock had a trading volume of 322,901 shares, compared to its average volume of 524,350. NICE has a twelve month low of $151.52 and a twelve month high of $270.73. The company's 50 day simple moving average is $172.93 and its 200 day simple moving average is $177.72. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45.

Hedge Funds Weigh In On NICE

Institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. increased its holdings in shares of NICE by 4.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company's stock valued at $367,000 after purchasing an additional 65 shares in the last quarter. Aurora Investment Counsel increased its stake in shares of NICE by 0.7% during the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company's stock worth $1,876,000 after buying an additional 80 shares during the period. Financial Perspectives Inc boosted its holdings in NICE by 17.8% in the second quarter. Financial Perspectives Inc now owns 569 shares of the technology company's stock valued at $98,000 after purchasing an additional 86 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of NICE by 11.4% during the third quarter. Mendota Financial Group LLC now owns 841 shares of the technology company's stock worth $146,000 after purchasing an additional 86 shares during the period. Finally, Legacy Advisors LLC increased its position in shares of NICE by 1.3% in the second quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company's stock valued at $1,148,000 after buying an additional 88 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

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.