NICE (NASDAQ:NICE) Updates FY24 Earnings Guidance

NICE (NASDAQ:NICE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.95-11.15 for the period, compared to the consensus earnings per share estimate of $10.73. The company issued revenue guidance of $2.72-2.74 billion, compared to the consensus revenue estimate of $2.73 billion. NICE also updated its FY 2024 guidance to 10.950-11.150 EPS.

NICE Stock Performance

NICE traded down $25.79 during midday trading on Thursday, reaching $173.38. The company’s stock had a trading volume of 1,308,829 shares, compared to its average volume of 513,966. NICE has a twelve month low of $151.52 and a twelve month high of $270.73. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market cap of $10.90 billion, a P/E ratio of 28.61, a PEG ratio of 1.56 and a beta of 1.04. The company has a fifty day simple moving average of $172.27 and a 200 day simple moving average of $178.68.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. The business had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. NICE’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. Research analysts expect that NICE will post 8.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

NICE has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price objective on shares of NICE in a report on Thursday, October 3rd. JMP Securities reissued a “market outperform” rating and issued a $300.00 price target on shares of NICE in a report on Friday, August 16th. Northland Securities reduced their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. Wedbush reissued an “outperform” rating and issued a $250.00 target price on shares of NICE in a research note on Friday, August 16th. Finally, Barclays cut their price target on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $268.79.

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.