JPMorgan analyst Paul Coster raised his price target for Nice to $166 from $150 and maintains an Overweight rating on the shares ahead of the company's Q2 results. The analyst expects management's tone to "remain constructive" owing to increased revenue visibility and operating leverage as it transitions towards the cloud. Further, he believes consensus estimates may be too conservative and expects guidance to be increased throughout the year. Nice is emerging as a clear leader within the customer experience optimization space, Coster tells investors in a research note.

Rosenblatt initiated coverage of Nice with a Buy rating and $285 price target. The firm believes Nice is well positioned across the large and mid-sized enterprise market to take share from legacy players due to an increase in demand for AI and automation in the contact center and views the company's cloud business as a 20%-plus year-over-year grower over the mid-term, the analyst tells investors.