NICE systems is poised to gain as its competitors in software struggle, according to Piper Sandler.
Systems , which provides customer experience and anti-fraud and risk management software, is poised to rally in the coming year, according to Piper Sandler. The firm upgraded shares of the company to overweight from neutral and boosted its price target to $227 from $222, implying a more than 14% upside from where shares traded at Friday's close. Shares rose 3% on the news.
's valuation is 'not a steal' on current estimates, but with these positive dynamics & valuation having come in, we have a more favorable view at these levels." Nice win rates has a more resilient installed base than its peers due to its high exposure to financial services, which should help its momentum going into 2023. Cloud renewals should also become most of the revenue growth and recurring revenue in 2023, leading to stable growth rates in the second half of the year and pushing better operating leverage. There's also potential in the company's robot process automation software as well as it is a top priority for customers when choosing a software.
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