Nice price target raised to $124 from $122 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Nice (NICE) to $124 from $122 and keeps a Neutral rating on the shares. Following the overall software-melt to start the year, and Nice’s disappointing Capital Markets Day given the free cash flow-cut, shares showed a rebound post Q4’s print on Thursday morning, the firm says. The print and guide came in largely how Piper anticipated it to, though total AI ARR led the way as the company is executing on cross-selling it into the installed base. Cloud guide even with Cognigy and ramping large “whales” doesn’t look easy again though but more “realistic” and dependent on Cognigy execution, it adds.