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Nice (NICE) Stock Sinks As Market Gains: Here's Why
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The most recent trading session ended with Nice (NICE - Free Report) standing at $225.35, reflecting a -0.06% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.35%.
The software company's shares have seen a decrease of 13.48% over the last month, not keeping up with the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2%.
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 earnings per share (EPS) are projected to be $2.45, reflecting a 20.69% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $654.81 million, reflecting a 14.5% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.52 per share and revenue of $2.73 billion. These totals would mark changes of +19.68% and +14.74%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nice. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Nice possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Nice is currently trading at a Forward P/E ratio of 21.44. This indicates a discount in contrast to its industry's Forward P/E of 29.07.
We can additionally observe that NICE currently boasts a PEG ratio of 1.58. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. NICE's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nice (NICE) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Nice (NICE - Free Report) standing at $225.35, reflecting a -0.06% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.35%.
The software company's shares have seen a decrease of 13.48% over the last month, not keeping up with the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2%.
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 earnings per share (EPS) are projected to be $2.45, reflecting a 20.69% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $654.81 million, reflecting a 14.5% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.52 per share and revenue of $2.73 billion. These totals would mark changes of +19.68% and +14.74%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nice. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Nice possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Nice is currently trading at a Forward P/E ratio of 21.44. This indicates a discount in contrast to its industry's Forward P/E of 29.07.
We can additionally observe that NICE currently boasts a PEG ratio of 1.58. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. NICE's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.