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Here's Why Nice (NICE) Fell More Than Broader Market
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Nice (NICE - Free Report) closed at $147.14 in the latest trading session, marking a -3.33% move from the prior day. This move lagged the S&P 500's daily loss of 0.5%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.5%.
Heading into today, shares of the software company had gained 8.47% over the past month, outpacing the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 2.74%.
The investment community will be paying close attention to the earnings performance of Nice in its upcoming release. The company is predicted to post an EPS of $3.17, indicating a 10.07% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $727.92 million, reflecting a 5.5% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.44 per share and revenue of $2.93 billion, indicating changes of +11.87% and +7%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nice. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Nice is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Nice is holding a Forward P/E ratio of 12.24. This signifies a discount in comparison to the average Forward P/E of 31.31 for its industry.
We can additionally observe that NICE currently boasts a PEG ratio of 1.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NICE's industry had an average PEG ratio of 2.28 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Nice (NICE) Fell More Than Broader Market
Nice (NICE - Free Report) closed at $147.14 in the latest trading session, marking a -3.33% move from the prior day. This move lagged the S&P 500's daily loss of 0.5%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.5%.
Heading into today, shares of the software company had gained 8.47% over the past month, outpacing the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 2.74%.
The investment community will be paying close attention to the earnings performance of Nice in its upcoming release. The company is predicted to post an EPS of $3.17, indicating a 10.07% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $727.92 million, reflecting a 5.5% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.44 per share and revenue of $2.93 billion, indicating changes of +11.87% and +7%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nice. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Nice is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Nice is holding a Forward P/E ratio of 12.24. This signifies a discount in comparison to the average Forward P/E of 31.31 for its industry.
We can additionally observe that NICE currently boasts a PEG ratio of 1.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NICE's industry had an average PEG ratio of 2.28 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.