Here’s Why NICE Stock (NASDAQ:NICE) Soared 20% Yesterday
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Here’s Why NICE Stock (NASDAQ:NICE) Soared 20% Yesterday

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NICE shares jumped more than 20% yesterday, driven by stronger-than-expected Q3 results beating both top and bottom-line estimates as well as higher FY-2022 guidance.

NICE Ltd. (NASDAQ:NICE) shares jumped over 20% yesterday following upbeat Q3 earnings. The company also raised its FY-2022 EPS guidance ahead of analysts’ expectations.

Based in Israel, NICE Ltd. provides cloud and on-premises software solutions and services.

A Snapshot of NICE’s Q3-2022 Results

Adjusted earnings of $1.92 per share beat analysts’ estimates of $1.87 per share. Further, this represents a 14.3% growth rate compared to earnings of $1.68 per share in the prior-year period.

Further, revenues jumped 12.2% year-over-year to $554.7 million and exceeded consensus estimates by $548.8 million. The revenue growth was driven by 26% growth in the Cloud segment.

Based on robust Q3 results, management raised its guidance for 2022. For FY2022, adjusted EPS is now expected to range between $7.40 – $7.60, higher than the prior guidance range of $7.33 – $7.53 and the consensus estimate of $7.45.

Meanwhile, the company continues to expect total revenue to range between $2.168 billion – $2.188 billion, while consensus is pegged at $2.18 billion.

Is NICE a Good Stock to Buy, According to Analysts?

The Wall Street community is clearly optimistic about NICE stock. Overall, the stock commands a Strong Buy consensus rating based on six Buys and two Holds. NICE’s average price target of $262.25 implies 35.1% upside potential from current levels.



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