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.