On Nov 15, major Wall Street analysts update their ratings for $NICE Ltd (NICE.US)$, with price targets ranging from $215 to $300.
BofA Securities analyst Michael Funk maintains with a buy rating, and adjusts the target price from $270 to $250.
Barclays analyst Tavy Rosner maintains with a buy rating, and maintains the target price at $286.
Jefferies analyst Samad Samana maintains with a buy rating, and adjusts the target price from $230 to $215.
Oppenheimer analyst Timothy Horan downgrades to a hold rating.
RBC Capital analyst Rishi Jaluria maintains with a buy rating, and maintains the target price at $260.
Furthermore, according to the comprehensive report, the opinions of $NICE Ltd (NICE.US)$'s main analysts recently are as follows:
The company's third-quarter results slightly surpassed expectations on revenue but did not meet the anticipated growth in cloud revenue, which is a primary focus for investors. Moreover, the company's management has revised its forecast for organic cloud growth down to 16%-17% from the previous expectation of 18% for the year 2024. Despite these developments, the stock is still considered appealing due to its competitive stance, the expected uptick in Contact Center as a Service demand, and its current valuation.
Upon evaluating the Q3 results and anticipating a return to accelerated growth in Q4, it appears that there are more robust underlying business trends and pipeline narratives for Nice as compared to Zoom Video. The more positive outlook for Nice is based on research that has revealed a strong momentum in large-deal closures and an increase in competitive victories.
The company has experienced a slowdown in organic cloud growth, which has decelerated to 16% from 21% in the previous year. Despite strong bookings for new digital and artificial intelligence services, the implementation process has been lengthier than anticipated, as is common with most AI applications. The situation suggests there may be more opportune moments for entry and a potential future uptick in cloud growth.
Following the company's recent quarterly results, it was noted that total revenue and earnings per share surpassed consensus estimates, with the increase in revenue being attributed to product sales, despite Cloud revenue not meeting expectations. Analysts highlight that while management has a positive outlook on future momentum and anticipates an uptick in Cloud growth in the upcoming quarter, concerns linger due to another underwhelming performance in Cloud revenue, the absence of a long-term Cloud forecast, and a CEO transition, which collectively contribute to a period of uncertainty for the company.
Here are the latest investment ratings and price targets for $NICE Ltd (NICE.US)$ from 7 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
