Shares of Nice Ltd (NICE) tumbled 7.25% in pre-market trading on Tuesday, following a series of price target cuts from multiple Wall Street analysts. The sharp decline comes as investors react to the downward revisions in the company's valuation by prominent financial firms.

Three major analyst firms have lowered their price targets for Nice Ltd. Piper Sandler reduced its target price from $140 to $122, while Jefferies cut its projection from $152 to $136. RBC also joined the trend, lowering its price target from $190 to $175. These downgrades have collectively put significant pressure on the stock, leading to the pre-market plunge.

The wave of price target reductions follows Nice Ltd's recent capital markets day, which may have failed to meet investor expectations. While the specific reasons for the analysts' more cautious outlook were not detailed in the available news, such coordinated downgrades often reflect concerns about a company's growth prospects, competitive positioning, or broader market conditions. Investors will likely be closely watching for any additional information or guidance from the company to better understand the factors behind these analyst actions and the subsequent stock price movement.