NICE (NASDAQ:NICE) Downgraded by Oppenheimer to “Market Perform”

NICE (NASDAQ:NICE) was downgraded by investment analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Friday,Briefing.com Automated Import reports.

A number of other analysts have also weighed in on the company. Barclays cut their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Wedbush reiterated an “outperform” rating and issued a $250.00 price objective on shares of NICE in a research note on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of NICE in a research note on Thursday, October 3rd. Piper Sandler reiterated a “neutral” rating on shares of NICE in a research note on Thursday. Finally, JMP Securities restated a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

NICE Price Performance

NICE opened at $182.19 on Friday. The stock’s 50-day moving average price is $172.66 and its 200 day moving average price is $178.70. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. NICE has a 12-month low of $151.52 and a 12-month high of $270.73. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. During the same period in the prior year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that NICE will post 8.5 earnings per share for the current year.

Hedge Funds Weigh In On NICE

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV increased its stake in NICE by 208.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after buying an additional 100 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock worth $32,000 after acquiring an additional 107 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in NICE in the third quarter valued at $38,000. GAMMA Investing LLC raised its position in NICE by 89.9% during the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after acquiring an additional 116 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of NICE during the 2nd quarter worth approximately $72,000. Hedge funds and other 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.