NICE Ltd, a company that provides software solutions, saw its stock plunge 7.56% in pre-market trading on Thursday. This sell-off appears to be driven by the company's disappointing earnings guidance for the upcoming first quarter.
According to NICE's guidance, the company expects its adjusted earnings per share (EPS) for Q1 to range between $2.78 and $2.88. This range falls short of the FactSet consensus estimate of $2.98 EPS, indicating that analysts were anticipating stronger earnings performance.
The pre-market plunge in NICE's stock price suggests that investors are reacting negatively to the company's lower-than-expected earnings guidance. Failure to meet analyst expectations can often lead to selling pressure on a stock, as investors may become concerned about the company's future growth prospects and profitability.
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