Nice (NICE) closed at $158.89 in the latest trading session, marking a -0.11% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.33%. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq depreciated by 0.53%.
The software company's stock has climbed by 9.78% in the past month, exceeding the Computer and Technology sector's loss of 7.14% and the S&P 500's loss of 4.03%.
Market participants will be closely following the financial results of Nice in its upcoming release. The company is expected to report EPS of $2.84, up 10.08% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $699.39 million, showing a 6.08% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $12.23 per share and a revenue of $2.93 billion, indicating changes of +9.98% and +7%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nice. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 witnessed an unchanged state. Nice currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Nice is currently being traded at a Forward P/E ratio of 13. This indicates a discount in contrast to its industry's Forward P/E of 27.65.
We can additionally observe that NICE currently boasts a PEG ratio of 0.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NICE's industry had an average PEG ratio of 2.08 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 73, positioning it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nice (NICE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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