JMP Securities Reiterates Market Outperform Rating for Nice (NASDAQ:NICE)

JMP Securities reiterated their market outperform rating on shares of Nice (NASDAQ:NICEFree Report) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $300.00 price objective on the technology company’s stock.

NICE has been the topic of several other research reports. Wedbush reissued an “outperform” rating and issued a $200.00 target price on shares of Nice in a research note on Friday, May 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $161.00 price objective on shares of Nice in a report on Friday, May 16th. DA Davidson lifted their price objective on shares of Nice from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, May 16th. Piper Sandler reiterated a “neutral” rating and set a $182.00 price objective (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Finally, Citigroup decreased their price objective on shares of Nice from $214.00 to $211.00 and set a “buy” rating for the company in a report on Monday, May 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.92.

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Nice Trading Down 0.3%

Shares of NICE opened at $165.33 on Wednesday. Nice has a twelve month low of $137.19 and a twelve month high of $200.65. The company has a market cap of $10.46 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.51 and a beta of 1.01. The company’s fifty day simple moving average is $161.83 and its 200-day simple moving average is $163.48.

Nice (NASDAQ:NICEGet Free Report) last announced its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business had revenue of $700.19 million for the quarter, compared to the consensus estimate of $699.46 million. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that Nice will post 9.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its position in shares of Nice by 329.9% in the 4th quarter. Sanctuary Advisors LLC now owns 5,743 shares of the technology company’s stock worth $948,000 after buying an additional 4,407 shares during the last quarter. Heritage Family Offices LLP acquired a new position in shares of Nice in the 1st quarter valued at $584,000. Ceera Investments LLC acquired a new position in shares of Nice in the 4th quarter valued at $4,963,000. Haven Capital Group Inc. purchased a new stake in Nice in the 4th quarter worth $5,577,000. Finally, New South Capital Management Inc. acquired a new position in shares of Nice during the 4th quarter valued at about $54,980,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

About Nice

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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.

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