Oppenheimer analyst Shaul Eyal reiterated a Buy rating on Nice-Systems (NICE) today and set a price target of $145. The company’s shares closed yesterday at $128.81, close to its 52-week high of $129.22.
Eyal said:
“We are raising our price target on NICE to $145 from $125 and introducing our FY21 estimates as our confidence in NICE’s prospects has been bolstered by NICE’s Interactions 2019 Conference. During the conference, NICE noted that it expects its overall total addressable market to grow to $16B over the next five years with the TAM for Customer Engagement growing to $12B from $7B and the TAM for Financial Crime growing to $4B from $2B. TAM growth, rising profitability, and top-line growth should catalyze valuation multiple expansion for NICE. Looking ahead, within five years, NICE expects revenues above $2B on operating margins above 30% with a cloud revenue mix above 50%. We reiterate our Outperform rating.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 17.4% and a 70.1% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and CyberArk Software.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nice-Systems with a $127.25 average price target.
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Based on Nice-Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $38.3 million. In comparison, last year the company had a net profit of $23.97 million.
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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.
