Oppenheimer analyst Shaul Eyal reiterated a Buy rating on Nice-Systems (NASDAQ: NICE) today and set a price target of $115. The company’s shares opened today at $96.58, close to its 52-week high of $99.61.
Eyal wrote:
“We are raising our price target on NICE to $115 from $100 following strong 1Q18 results and raised FY18 guidance in which NICE delivered non-GAAP EPS/ rev. of $1.03/$341M (revenue +11%), beating the c onsensus of $1.01/$333M. Encouragingly, recurring revenue, which represented 69% of 1Q revenue, continues to ramp, primarily driven by strong cloud performance. Raised guidance (midpoint: $4.53/$1,446M), does not include the potential impact of the pending Mattersight acquisition. CXone is accelerating growth, and NICE has significantly improved the time required from the booking of an order to a customer going live. We expect to hear more regarding NICE’s long-term strategy, including its expectations for the cloud, at the company’s Analyst/Investor Day next week. We reiterate our Outperform rating.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.3% and a 66.9% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Nice-Systems has an analyst consensus of Hold, with a price target consensus of $98.40.
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Based on Nice-Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $81.65 million. In comparison, last year the company had a net profit of $17.84 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.
