NICE Analysts Boost Their Forecasts After Strong Q4 Results
Portfolio Pulse from Avi Kapoor
NICE Ltd (NASDAQ:NICE) reported strong Q4 fiscal 2023 results with a 9.6% year-over-year revenue growth to $623.19 million, surpassing consensus estimates. Adjusted EPS rose to $2.36 from $2.04, beating expectations. The company provided optimistic FY24 guidance, expecting significant revenue and EPS growth. Following the report, analysts from Wedbush, RBC Capital, and JMP Securities raised their price targets on NICE. Despite the positive results and outlook, NICE shares fell 2.7% to $238.90.
February 23, 2024 | 7:39 pm
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NICE Ltd reported impressive Q4 results and optimistic FY24 guidance, leading to increased price targets by analysts. However, shares dropped 2.7% following the announcement.
The drop in NICE's stock price despite surpassing Q4 expectations and providing a strong FY24 outlook may be attributed to market reactions to other factors not detailed in the news or profit-taking by investors. Analysts' raised price targets reflect confidence in the company's future performance, but the immediate market reaction was negative.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100