Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks

03. NICE Ltd. (NASDAQ:NICE)

Price Reaction after the Price Target Cut: -5.05(-2.54%)

On May 17, BofA Securities revised its forecast for NICE Ltd. (NASDAQ:NICE) shares, lowering the price target from $300 to $270. Following this adjustment, there was a notable price reaction, with the stock decreasing by 2.54%. NICE Ltd. (NASDAQ:NICE), operating in the technology sector, faced this downward revision in its price target, signaling potential challenges ahead.

Vulcan Value Partners stated the following regarding NICE Ltd. (NASDAQ:NICE) in its first quarter 2024 investor letter:

“NICE Ltd. (NASDAQ:NICE) is a global enterprise software company that provides mission-critical contact center software. The company continues to perform well, and fundamentals are strong. Cloud revenue has grown in line with our expectations. We believe that generative AI will continue to drive cloud adoption and that AI is an opportunity rather than a threat to NICE’s business.”