NICE Rides on Expanding Customer Base, Prospects Aplenty
NICE NICE is riding on frequent customer wins. The company’s solutions like Inform Elite, Actimize, Robotic Process Automation and Investigate have been gaining traction in recent times.
City of Detroit 911 communications center is deploying NICE Inform Elite to improve productivity, enhance staff performance and satisfaction, as well as provide better service to citizens and communities.
Detroit is the largest city in Michigan and the 27th most populous U.S. city, with more than 639,000 residents.
Expanding Customer Base to Aid Prospects
NICE shares are up 10.7% in the past six months, outperforming the Zacks Internet Software industry’s decline of 30.8%. NICE is benefiting from an expanding customer base that is driving top-line growth.
Recently, NTT Marketing ACT, a leading Japanese BPO, selected NICE Nexidia and Enlighten to automate a major portion of its quality management processes.
Nice Price and Consensus
Nice price-consensus-chart | Nice Quote
NICE Investigate, the digital evidence management solution, has been adopted by the U.K.’s South Yorkshire Police to facilitate digital transformation in the force. NICE Investigate was also selected by the Charleston County Sheriff's Office in South Carolina to improve agency efficiency.
The global business process solution provider, Firstsource, opted for NICE’s WFM suite to complete the transition of the former’s workforce management operation to the cloud.
BCE BCE, Canada's largest communications company, inked an agreement with NICE to expand access to its CXone for Contact Center as a Service (CCaaS) in Canada.
The BCE and CXone combination provides customers an industry-leading contact center platform, along with ultra-fast speed and low latency network. These are must needed for contact centers to provide highly flexible, digital-first customer experiences.
Expanding customer base drove top-line growth in the third quarter of 2021. NICE reported a 20% year-over-year increase in revenues, reaching $494.4 million. Cloud revenues witnessed a 29% year-over-year growth to reach $262 million.
NICE raised its guidance for full-year 2021 revenues, which are now expected between $1.899 billion and $1.909 billion. Earnings are now expected between $6.43 and $6.53 per share.
The Zacks Consensus Estimate for 2021 earnings is pegged at $6.49 per share, unchanged over the past 30 days. For 2022, the consensus mark stands at $7.21, unchanged over the same time frame.
Revenues for 2021 are pegged at $1.91 billion, suggesting 15.08% growth from the figure reported in the previous year. 2022 revenues are pegged at $2.09 billion, suggesting 9.73% growth from the estimated 2021 revenues.
Zacks Rank & Stocks to Consider
Currently, NICE has a Zacks Rank #3 (Hold).
Arlo Technologies ARLO and Cloudflare NET are better-ranked stocks in the same industry. Both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arlo shares are up 59.2% in the past six-month period. The Zacks Consensus Estimate for 2022 is pegged at 1 cent per share up from a loss of 3 cents over the past 60 days.
Cloudflare shares are down 4% in the past six-month period. The consensus mark for 2022 is pegged at 1 cent per share, unchanged over the past 60 days.
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