NICE (NASDAQ:NICE) Updates FY 2024 Earnings Guidance

NICE (NASDAQ:NICE - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 10.950-11.150 for the period, compared to the consensus earnings per share estimate of 10.730. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. NICE also updated its FY24 guidance to $10.95-11.15 EPS.

NICE Trading Down 8.5 %

Shares of NICE stock traded down $16.98 during mid-day trading on Thursday, hitting $182.19. The company's stock had a trading volume of 3,162,676 shares, compared to its average volume of 522,027. The company has a market cap of $11.45 billion, a PE ratio of 30.42, a P/E/G ratio of 1.56 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. The company's fifty day simple moving average is $172.66 and its 200-day simple moving average is $178.70. NICE has a 52 week low of $151.52 and a 52 week high of $270.73.

NICE (NASDAQ:NICE - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.06. The firm had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 earnings per share. As a group, equities research analysts expect that NICE will post 8.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Wedbush restated an "outperform" rating and set a $250.00 price target on shares of NICE in a research note on Friday, August 16th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of NICE in a research note on Tuesday, August 13th. Citigroup upped their target price on shares of NICE from $330.00 to $334.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Northland Securities cut their price target on NICE from $305.00 to $275.00 and set an "outperform" rating for the company in a research note on Friday, August 16th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $268.79.

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.