Oppenheimer Maintains a Buy Rating on Nice-Systems (NICE)

Oppenheimer analyst Shaul Eyal maintained a Buy rating on Nice-Systems (NICE) yesterday and set a price target of $120. The company’s shares closed yesterday at $113.15.

Eyal wrote:

“For 3Q18, NICE delivered non-GAAP EPS/rev. of $1.12/$356M (revenue +9% y/y), beating the consensus $1.07/$351M. Encouragingly, cloud revenue grew 20%. In October, NICE announced X-Sight, a financial crime and compliance platform-as- a-service cloud-delivered solution combining advanced analytics and AI, automated data management, and robotics. CXone, NICE’s open cloud platform, is rapidly expanding its market presence, and the company is expecting a similar trajectory for X-Sight. Leading-edge software technologies continue to drive performance for NICE. NICE is leveraging advanced capabilities, streamlined operations and optimized processes to enable critical capabilities for its enterprise customers. Reiterate Outperform.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.7% and a 67.6% success rate. Eyal covers the Technology sector, focusing on stocks such as Proofpoint Inc, Mimecast Ltd, and Check Point.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nice-Systems with a $124 average price target.

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Based on Nice-Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $33.47 million. In comparison, last year the company had a net profit of $27.01 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.