In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on Nice-Systems (NASDAQ: NICE), with a price target of $120. The company’s shares opened today at $107.12.
Eyal observed:
“We are increasing our price target on NICE to $120 from $115 following solid June ’18 results. For the quarter, NICE delivered non-GAAP EPS/rev. of $1.06/$345M (revenue 10%) beating the c onsensus $1.02/$343M. NICE is rapidly becoming a cloud company and this quarter saw 28% y/y growth in cloud revenue. In addition to the impact on Customer Engagement, Cloud is also boosting the Compliance revenue by enabling NICE to expand its position beyond its typical large customer domain. L eading-edge software technologies/capabilities continue to drive solid performance for the company. Key drivers for NICE include analytics, omni- channel, cloud, and artificial intelligence. As NICE leverages streamlined operations and optimized processes, the company is enabling critical enterprise software capabilities. Reiterate Outperform.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.8% and a 65.9% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Currently, the analyst consensus on Nice-Systems is a Moderate Buy with an average price target of $111.40.
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The company has a one-year high of $116.05 and a one-year low of $73.65. Currently, Nice-Systems has an average volume of 241.3K.
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NICE Ltd. engages in the provision of enterprise software solutions and services. It operates through the following segments: Customer Interactions Solutions, Security Solutions, and Financial Crime and Compliance Solutions.
