Fly News Breaks for May 17, 2019
May 17, 2019 | 08:08 EDT
DA Davidson analyst Rishi Jaluria raised his price target on Nice to $140 after its "strong" Q1 results driven by cloud and product revenue growth. The analyst notes the company's launch of digital interactions capabilities for the CXone platform following its acquisition of BrandEmbassy and also cites its large deal success in the quarter, with "multiple 7-digit and 8-digit deals" coming from its CXone, Analytics, and Actimize Essentials products. Jaluria keeps his Neutral rating on Nice however, stating that while he is positive on its leadership position and execution, at 7-times enterprise value to his expected FY20 recurring revenue and 25-times forward earnings, he sees the stock as "fairly valued."
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