Market News

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

Story Highlights

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.

Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More