Citigroup Has Lowered Expectations for NICE (NASDAQ:NICE) Stock Price

NICE (NASDAQ:NICE - Free Report) had its price target lowered by Citigroup from $279.00 to $228.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other analysts also recently commented on NICE. Rosenblatt Securities dropped their price objective on NICE from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Northland Securities lowered their price objective on shares of NICE from $275.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. Barclays reduced their target price on NICE from $286.00 to $226.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Jefferies Financial Group reaffirmed a "hold" rating and set a $200.00 price objective (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. Finally, Piper Sandler reissued a "neutral" rating on shares of NICE in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $231.64.

NICE Trading Down 1.3 %

NICE stock traded down $1.90 during trading on Monday, hitting $142.99. The company had a trading volume of 889,433 shares, compared to its average volume of 653,817. The business has a 50 day moving average of $167.42 and a 200 day moving average of $172.49. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 1.07 and a beta of 1.06. NICE has a fifty-two week low of $142.77 and a fifty-two week high of $270.73.

NICE (NASDAQ:NICE - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $718.47 million. As a group, equities analysts predict that NICE will post 9.85 EPS for the current year.

Hedge Funds Weigh In On NICE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NICE. Creative Planning increased its stake in shares of NICE by 2.9% during the 3rd quarter. Creative Planning now owns 7,608 shares of the technology company's stock worth $1,321,000 after purchasing an additional 217 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of NICE by 48.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 277 shares of the technology company's stock worth $48,000 after buying an additional 91 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of NICE by 52.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the technology company's stock worth $318,000 after acquiring an additional 627 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of NICE during the 3rd quarter valued at about $3,348,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of NICE by 4.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,858 shares of the technology company's stock valued at $1,017,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 63.34% of the company's stock.

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.