NICE (NASDAQ:NICE) Releases FY24 Earnings Guidance

NICE (NASDAQ:NICE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $10.95-11.15 for the period, compared to the consensus EPS 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 Down 8.5 %

NASDAQ:NICE opened at $182.19 on Friday. NICE has a 1-year low of $151.52 and a 1-year high of $270.73. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.61 and a beta of 1.04. 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 business’s fifty day moving average price is $172.66 and its 200 day moving average price is $178.70.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a research report on Friday. Piper Sandler restated a “neutral” rating on shares of NICE in a report on Thursday. Barclays reduced their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of NICE in a research report on Tuesday, August 13th. Two equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.00.

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.