NICE (NASDAQ:NICE) Price Target Cut to $202.00 by Analysts at Morgan Stanley

NICE (NASDAQ:NICE - Free Report) had its price objective trimmed by Morgan Stanley from $235.00 to $202.00 in a report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the technology company's stock.

A number of other analysts have also recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of NICE from $176.00 to $161.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Citigroup decreased their target price on NICE from $279.00 to $228.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Jefferies Financial Group reiterated a "hold" rating and issued a $200.00 target price (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Rosenblatt Securities reduced their price target on NICE from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of NICE in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, NICE currently has an average rating of "Moderate Buy" and a consensus price target of $225.71.

NICE Price Performance

NICE stock traded down $0.93 during trading on Wednesday, reaching $149.75. 335,061 shares of the stock traded hands, compared to its average volume of 586,781. The firm has a market capitalization of $9.41 billion, a PE ratio of 22.15, a P/E/G ratio of 1.07 and a beta of 1.05. The business's 50 day moving average price is $153.25 and its 200-day moving average price is $167.41. NICE has a 52-week low of $137.19 and a 52-week high of $231.67.

NICE (NASDAQ:NICE - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.96 by ($0.71). The firm had revenue of $721.60 million for the quarter, compared to analysts' expectations of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. On average, equities research analysts predict that NICE will post 9.85 earnings per share for the current year.

Hedge Funds Weigh In On NICE

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in NICE by 34.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,023 shares of the technology company's stock worth $699,000 after buying an additional 1,034 shares during the last quarter. MML Investors Services LLC lifted its stake in NICE by 238.7% during the third quarter. MML Investors Services LLC now owns 7,503 shares of the technology company's stock worth $1,303,000 after purchasing an additional 5,288 shares during the last quarter. World Investment Advisors LLC acquired a new position in NICE in the third quarter worth $24,547,000. Wilmington Savings Fund Society FSB acquired a new position in NICE in the third quarter worth $41,000. Finally, Destination Wealth Management bought a new stake in NICE during the third quarter valued at $309,000. 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.