NICE Falls 2.3% as Major U.S. Indexes Advance
The shares lost ground in the latest session despite a monthly gain, while investors await quarterly results and revenue growth.
NICE shares fell 2.3% to $113.81 in the latest session, even as major U.S. indexes rose. The S&P 500 gained 0.73%, the Dow added 0.49% and the Nasdaq climbed 1.19%.
The decline came after a stronger month for the stock. NICE gained 7.54% over that period, ahead of the Computer and Technology sector’s 6.36% rise and the S&P 500’s 0.55% gain.
Investors are watching for the company’s next earnings report. Zacks’ consensus estimate puts quarterly earnings at $2.78 per share, down 12.58% from the same quarter a year earlier, while revenue is expected to reach $786.5 million, up 7.44%.
For the full year, Zacks’ estimates call for earnings of $11.18 per share and revenue of $3.18 billion. Those figures represent expected declines of 9.11% in earnings and growth of 8.07% in revenue compared with the prior year.
The consensus earnings estimate had not changed over the past month, according to the report. It also cited a forward price-to-earnings ratio of 10.42 for NICE, compared with an industry average of 19.59.
This article was produced with the help of AI technology. Source: Yahoo Finance