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Nice (NICE) Stock Declines While Market Improves: Some Information for Investors
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Nice (NICE - Free Report) closed at $222.89 in the latest trading session, marking a -0.58% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.87%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw an increase of 1.11%.
Coming into today, shares of the software company had lost 14.17% in the past month. In that same time, the Computer and Technology sector lost 5.98%, while the S&P 500 lost 3.97%.
Investors will be eagerly watching for the performance of Nice in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 16, 2024. The company's upcoming EPS is projected at $2.45, signifying a 20.69% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $654.81 million, up 14.5% from the year-ago period.
NICE's full-year Zacks Consensus Estimates are calling for earnings of $10.52 per share and revenue of $2.73 billion. These results would represent year-over-year changes of +19.68% and +14.74%, respectively.
It is also important to note the recent changes to analyst estimates for Nice. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Nice possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Nice is presently being traded at a Forward P/E ratio of 21.32. Its industry sports an average Forward P/E of 27.89, so one might conclude that Nice is trading at a discount comparatively.
We can also see that NICE currently has a PEG ratio of 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nice (NICE) Stock Declines While Market Improves: Some Information for Investors
Nice (NICE - Free Report) closed at $222.89 in the latest trading session, marking a -0.58% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.87%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw an increase of 1.11%.
Coming into today, shares of the software company had lost 14.17% in the past month. In that same time, the Computer and Technology sector lost 5.98%, while the S&P 500 lost 3.97%.
Investors will be eagerly watching for the performance of Nice in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 16, 2024. The company's upcoming EPS is projected at $2.45, signifying a 20.69% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $654.81 million, up 14.5% from the year-ago period.
NICE's full-year Zacks Consensus Estimates are calling for earnings of $10.52 per share and revenue of $2.73 billion. These results would represent year-over-year changes of +19.68% and +14.74%, respectively.
It is also important to note the recent changes to analyst estimates for Nice. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Nice possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Nice is presently being traded at a Forward P/E ratio of 21.32. Its industry sports an average Forward P/E of 27.89, so one might conclude that Nice is trading at a discount comparatively.
We can also see that NICE currently has a PEG ratio of 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.