Wedbush Initiates Coverage on Nice Systems (NICE)
Research analysts at Wedbush began coverage on shares of Nice Systems (NASDAQ:NICE) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $47.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 15.65% from the stock’s previous close.
The analysts wrote, “We believe the risk/reward is favorable for NICE. NICE is a stable revenue grower with continued margin expansion potential, has strong FCF dynamics, and has a buyback and dividend in place, all of which we believe limit downside. In terms of upside, we believe revenue growth should accelerate next year as strong 2013 bookings flow to revenue and growth should remain in the double-digits for several years as the company executes on its advanced analytics strategy.”
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG downgraded shares of Nice Systems (NASDAQ:NICE) from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Zacks downgraded shares of Nice Systems (NASDAQ:NICE) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 6th. They now have a $42.60 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Nice Systems (NASDAQ:NICE) from $44.50 to $47.00 in a research note to investors on Tuesday, July 30th. They now have an “overweight” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Nice Systems has an average rating of “Buy” and an average price target of $43.37.
Nice Systems (NASDAQ:NICE) traded up 1.11% during mid-day trading on Thursday, hitting $41.09. 60,355 shares of the company’s stock traded hands. Nice Systems has a 52 week low of $30.64 and a 52 week high of $42.12. The stock has a 50-day moving average of $38.72 and a 200-day moving average of $37.21. The company has a market cap of $2.481 billion and a P/E ratio of 30.01.
Nice Systems (NASDAQ:NICE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.61 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.62 by $0.01. The company had revenue of $225.00 million for the quarter, compared to the consensus estimate of $226.93 million. During the same quarter last year, the company posted $0.57 earnings per share. Nice Systems’s revenue was up 6.0% compared to the same quarter last year.
NICE-Systems Ltd. (NASDAQ:NICE) is a provider of solutions that enable enterprises and security organizations to extract insight from interactions, transactions and surveillance.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.