NICE Ltd ADR

NICE: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$171.00	Pvkvpc	Ptsnbwxd

Nice Earnings: Good Cloud Growth and New CEO Announced; Shares Undervalued

Rob Hales

Aug 19, 2024

Nice reported second-quarter results that were slightly ahead of FactSet consensus on revenue and profits. Shares rose 4% intraday, but strong stock performance in recent days is mainly recovering lost ground after competitor Five9 announced a weak outlook in its updated fiscal 2024 guidance. Highlights in the quarter included 26% cloud revenue growth and Scott Russell was announced as the new CEO. We’re lifting our fair value estimate modestly to $275 from $265 on slightly higher revenue growth estimates and increased shares being repurchased at undervalued levels, in our opinion.

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