William Blair analyst Arjun Bhatia has maintained their bullish stance on NICE stock, giving a Buy rating today.
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Arjun Bhatia has given his Buy rating due to a combination of factors including NICE’s strong third-quarter performance and promising future outlook. The company reported revenue that exceeded expectations, driven primarily by cloud revenue which grew significantly. This growth was supported by NICE’s AI and self-service offerings, which saw a substantial year-over-year increase, indicating strong demand and potential for continued expansion in these areas.
Additionally, NICE’s management has shown confidence in their AI and cloud strategies, as evidenced by the increase in autopilot and copilot deals. Despite a slight revision in full-year guidance due to the Cognigy acquisition, the company’s commitment to profitability and strategic growth in cloud services remains clear. The stock’s valuation, trading at a multiple of future EBITDA and cash flow estimates, suggests potential for appreciation, supporting the Buy rating.
In another report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $190.00 price target.