NICE (NASDAQ:NICE) Sets New 52-Week Low – Here’s Why

NICE Ltd. (NASDAQ:NICE)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $146.54 and last traded at $147.33, with a volume of 547347 shares. The stock had previously closed at $151.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays reduced their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Northland Securities decreased their price target on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Cantor Fitzgerald decreased their price target on NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Oppenheimer downgraded shares of NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada lowered their price target on shares of NICE from $260.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, NICE has a consensus rating of “Moderate Buy” and an average price target of $231.64.

NICE Stock Down 4.5 %

The business’s 50-day simple moving average is $168.81 and its 200-day simple moving average is $172.89. The stock has a market cap of $9.10 billion, a PE ratio of 21.42, a PEG ratio of 1.07 and a beta of 1.06.

NICE (NASDAQ:NICE) last announced its 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). The business had revenue of $721.60 million for the quarter, compared to the consensus estimate of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. As a group, equities research analysts anticipate that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its position in NICE by 208.3% during the third 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. Avion Wealth bought a new stake in NICE during the fourth quarter worth about $25,000. Tradewinds Capital Management LLC purchased a new position in shares of NICE during the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC grew its stake in shares of NICE by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Finally, McIlrath & Eck LLC grew its stake in shares of NICE by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after acquiring an additional 58 shares during 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.