Citi analyst Tyler Radke raised the firm’s price target on Nice to $335 from $334 and keeps a Buy rating on the shares. The company’s beat and raise Q4 results offered further signs of organic cloud growth stabilization with a strong bottom line performance and 2024 outlook reinforcing the company’s “operational rigor,” the analyst tells investors in a research note. The firm believes Nice can continue to see upside, with the stock trading at mid-teens EBITDA multiple, and backed by a reaccelerating growth profile, expanding margins, and strong free cash flow returns.
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