Earnings to Watch Next Week: Ferrari, Alibaba, Allstate and Nice Systems in Focus

Earnings Calendar For The Week Of August 2

Monday (August 2)

IN THE SPOTLIGHT: FERRARI

The luxury sports car maker Ferrari is expected to report earnings of $1.26 per share for the second quarter, representing a 3,050% increase over $0.04 per share a year earlier.

The company, known for its prancing horse logo, would post revenue growth of over 107% to around $1.3 billion. According to ZACKS Research, the company has beaten earnings per share (EPS) estimates in three of the last four quarters.

“Growth potential and strong execution. Global shipments of >11k units in 2021, growing at a 9.1% CAGR to 2030 ending at ~22k shipments. Adj. EBITDA margins rise to 35% in 2021 on improved mix and pricing after launching 5 new models in 2020 and 2 in 2021,” noted Adam Jonas, equity analyst at Morgan Stanley.

Ferrari trades at a justified premium to luxury brands, in line with luxury leader, Hermes, albeit with more opportunity to grow organically via: new customers, new segments and geographically in China & Asia-Pac, as well as exhibiting a unique moat with a world-renowned brand and a 12+ month customer order book.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE AUGUST 2

Ticker Company EPS Forecast
HSBA HSBC Holdings £0.13
HSBC HSBC $0.86
ON ON Semiconductor $0.49
GPN Global Payments $1.90
L Loews $0.83
CNA CNA Financial $1.12
TKR Timken $1.44
SPG Simon Property Group $1.12
SBAC SBA Communications $0.66
PXD Pioneer Natural Resources $2.56
WMB Williams Companies $0.28
AWK American Water Works $1.08
ANET Arista Networks $2.55
O Realty Ome $0.38
TTWO Take Two Interactive Software $0.90
NXPI NXP Semiconductors $2.31
ITUB Itau Unibanco $0.12
EMN Eastman Chemical $2.35
FANG Diamondback Energy $2.23
CLR Continental Resources $0.55
BRKR Bruker $0.38
TREX Trex $0.53
MOS Mosaic $1.00
OHI Omega Healthcare Investors $0.44
VNO Vornado Realty $0.14
VRNS Varonis Systems -$0.03
COLM Columbia Sportswear -$0.07
LEG Leggett & Platt $0.54
NSP Insperity $0.66
AWR American States Water $0.71
KMT Kennametal $0.40
RMBS Rambus $0.31
UCTT Ultra Clean $0.97
OTTR Otter Tail $0.54
ACHC Acadia Healthcare $0.63
BRX Brixmor Property $0.14
OGS One Gas $0.52
WWD Woodward $0.97
RIG Transocean -$0.16
RACE Ferrari $1.26
BCC Boise Cascade $4.75
RARE Ultragenyx Pharmaceutical -$1.31
SANM Sanmina $0.91
TGTX TG Therapeutics -$0.55

Tuesday (August 3)

IN THE SPOTLIGHT: ALIBABA

China’s Alibaba Group Holding, the largest online and mobile e-commerce company in the world, is expected to report its fiscal first-quarter earnings of 1.86 yuan per share, up from 1.85 yuan per share seen in the same period a year ago.

China’s biggest online commerce company’s revenue to surge more than 35% to 209.928 billion yuan. The company has beaten earnings per share (EPS) estimates in three of the last four quarters.

“All-in investments in domestic consumption, globalization and technology are likely to weigh on profitability but pave the way to reach long-term target of 2bn global AAC. Alibaba hopes to achieve growth in the user base, enhanced engagement as well as the provision of more value to merchants,” noted Gary Yu, equity analyst at Morgan Stanley.

“In cloud, Alibaba will continue to drive market share leadership and will focus on providing more AI-driven industry solutions and improving Data-as-a-Service (DaaS). We see limited near-term catalysts but F22e P/E valuation remains attractive. We also see further downside support from additional disclosure to separate losses from new investments from profitable core e-commerce businesses.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE AUGUST 3

Ticker Company EPS Forecast
EXPD Expeditors International Of Washington $1.62
LPX Louisiana Pacific $4.30
AKAM Akamai $1.38
YMZBY Yamazaki Baking ADR $1.06
SABR Sabre -$0.52
PSX Phillips 66 $0.64
PSXP Phillips 66 Partners $0.88
PACB Pacific Biosciences Of California -$0.21
CMI Cummins $4.07
MITSY Mitsui & Company $13.06
ATI Allegheny Technologies -$0.19
CLX Clorox $1.32
IGT International Game Technology $0.23
LSCC Lattice Semiconductor $0.22
LDOS Leidos $1.58
IX Orix $2.25
PSA Public Storage $1.92
ETRN Equitrans Midstream Corp $0.15
AMGN Amgen $4.09
ZBRA Zebra Technologies $4.12
LHX L3Harris Technologies Inc $3.18
LLY Eli Lilly $1.89
NNN National Retail Properties $0.39
BP BP $0.58
ZBH ZIMMER BIOMET HDG. $1.86
WAT Waters $2.27
UAA Under Armour Inc $0.06
XYL Xylem $0.63
UA Under Armour C share $0.06
DISCB Discovery Communications Discb $0.82
DISCK Discovery Communications Disck $0.82
DISCA Discovery Communications $0.82
MAR Marriott International $0.47
INGR Ingredion $1.59
WEC Wisconsin Energy $0.79
INCY YTE $0.58
SEE Sealed Air $0.78
ROCK Gibraltar Industries $0.87
PEG Public Service $0.71
SWI Solarwinds $0.11
RL Ralph Lauren $0.88
NE Noble Corporation -$0.31
MKL Markel $15.50
MYGN Myriad Genetics -$0.09
EC Ecopetrol $1,851.52
KAI Kadant $1.53
BEN Franklin Resources $0.78
EDU New Oriental Education Tech $0.02
HSIC Henry Schein $0.97
IT Gartner $1.73
PCRX Pacira $0.69
ETN Eaton $1.57
KKR KKR & Co LP $0.87
WLTW Willis $1.97
AY Atlantica Yield $0.40
IPGP IPG Photonics $1.40
FIS Fidelity National Information Services $1.55
COP ConocoPhillips $1.08
BABA Alibaba $14.37
RHP Ryman Hospitality Properties -$1.62
CWH Camping World Holdings $2.38
AME Ametek $1.10
DD DuPont $0.95
SUN Sunoco $0.95
J Jacobs Engineering Group Inc $1.53
ALNY Alnylam Pharmaceuticals -$1.60
WLK Westlake Chemical $3.49
LGIH LGI Homes $3.92
OMI Owens Minor $0.97
DNB Dun & Bradstreet $0.24
HEP Holly Energy Partners $0.48
JAZZ Jazz Pharmaceuticals $3.52
NBIX Neurocrine Biosciences $0.51
RDN Radian $0.70
RPAI Retail Properties Of America -$0.01
H Hyatt Hotels -$0.85
NCR NCR $0.62
OXY Occidental Petroleum -$0.01
FICO Fair Isaac $2.81
OKE ONEOK $0.74
MANT ManTech International $0.87
SATS EchoStar $0.07
LYV Live Nation Entertainment -$1.15
LYFT Lyft Inc -$0.24
KAR Kar Auction Services $0.19
PAYC Paycom Software $0.84
MTCH Match Group $0.54
TX Ternium $3.48
QTS QTS Realty $0.03
MCHP Microchip Technology $1.91
PSB PS Business Parks $0.84
SRC Spirit Realty Capital New $0.26
MRCY Mercury Systems $0.67
HPP Hudson Pacific Properties -$0.01
CZR Caesars Entertainment -$0.12
ENLC EnLink Midstream $0.01
DVA DaVita Healthcare Partners $2.17
GDOT Green Dot $0.42
HLF Herbalife $1.29
HST Host Hotels & Resorts -$0.22
BKH Black Hills $0.38
DVN Devon Energy $0.52
INFN Infinera -$0.05
FMC FMC $1.78
ATVI Activision Blizzard $0.75
XP XP Inc $1.27
OI Owens-Illinois $0.47
LPSN LivePerson -$0.13
PEAK Healthpeak Properties Inc $0.15
SHO Sunstone Hotel Investors -$0.21
LSI LIFE STORAGE $0.69
RNG RingCentral $0.28
DEI Douglas Emmett $0.06
CAR Avis Budget $1.22
CW Curtiss-Wright $1.54
AIZ Assurant $2.42
BLKB Blackbaud $0.70
TTEC TeleTech $0.97
VRSK Verisk Analytics $1.33
EVTC Evertec $0.57
IOSP Innospec $0.89
MCY Mercury General $1.17
KWR Quaker Chemical $1.44
SPWR SunPower $0.04
RGA Reinsurance Of America $1.90
UNM Unum $1.12
PRU Prudential Financial $3.11
APAM Artisan Partners Asset Management $1.25
BBD Banco Bradesco $0.13
AFG American Financial $1.67
FCNCA First Citizens Bancshares $11.98
FNF Fidelity National Financial $1.43
ARNC Arconic Inc $0.47

Wednesday (August 4)

IN THE SPOTLIGHT: ALLSTATE

The Northfield Township, Illinois-based insurance company is expected to report its second-quarter earnings of $3.17 per share, which represents year-over-year growth of about 30% from $2.46 per share seen in the same quarter a year ago.

“Acquisition of National General marks shift towards independent agent channel. The dominant captive auto underwriter has been losing market share to direct channel. We expect this to continue, but NGHC transaction and increased focus on direct channel should mitigate its impact. Allstate also continues to diversify overall portfolio offering by growing non-traditional segments,” noted Michael W. Phillips, equity analyst at Morgan Stanley.

“Margin challenges from focus on growth. Near-term core combined ratio benefit from recession-induced decrease in driving, partially offset by restructuring charges. Auto margins worsen modestly in 2021e-2023e, reflecting competitive operating environment.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE AUGUST 4

Ticker Company EPS Forecast
FLT Fleetcor Technologies $2.93
WYNN Wynn Resorts -$1.51
CENTA Central Garden Pet $1.01
MTG MGIC Investment $0.43
DOX Amdocs $1.18
TRMB Trimble Navigation $0.60
ETR Entergy $1.40
SBRA Sabra Health Care Reit $0.15
TRNO Terreno Realty $0.24
RICOY Ricoh Company $0.05
TM Toyota Motor $4.48
ATRC AtriCure -$0.34
CLH Clean Harbors $0.82
CDW CDW $1.80
MPLX MPLX $0.66
HZNP Horizon Pharma $0.87
CVS CVS Health $2.06
YAMCY Yamaha DRC $0.38
MPC Marathon Petroleum $0.39
CRTO Criteo $0.46
PBR Petroleo Brasileiro Petrobras $0.72
BWA Borgwarner $0.80
EXC Exelon $0.68
SSUMY Sumitomo ADR $0.44
ITOCY Itochu ADR $2.04
IONS Ionis Pharmaceuticals -$0.54
CIM Chimera Investment $0.34
NYT New York Times $0.27
HWM Howmet Aerospace Inc $0.22
AVA Avista $0.26
SBGI Sinclair -$4.34
JLL Jones Lang LaSalle $1.73
SPR Spirit AeroSystems -$0.72
GM General Motors $1.69
BGCP BGC Partners $0.16
GGB Gerdau $0.36
ENBL Enable Midstream Partners $0.18
HFC HollyFrontier $0.61
NXST Nexstar Broadcasting $3.71
CRL Charles River Laboratories $2.37
BDC Belden $0.93
NI NiSource $0.13
EMR Emerson Electric $0.98
VMC Vulcan Materials $1.65
KHC Kraft Heinz $0.72
ABC AmerisourceBergen $2.03
APO Apollo Global Management $0.70
ODP Office Depot $0.54
SMG Scotts Miracle-Gro $3.50
MAC Macerich -$0.09
UE Urban Edge Properties $0.07
AEIS Advanced Energy Industries $1.27
DOC Physicians Realty $0.09
FUN Cedar Fair -$1.60
ALE Allete $0.60
MFC Manulife Financial USA $0.62
ETSY ETSY Inc $0.63
CPA Copa -$1.29
FOX Twenty First Century Fox $0.57
ALB Albemarle $0.84
WU Western Union $0.47
WCN Waste Connections $0.77
EA Electronic Arts EA $0.62
MRO Marathon Oil $0.17
STAA STAAR Surgical $0.07
BFAM Bright Horizons Family Solutions $0.35
FRT Federal Realty Investment $0.39
TS Tenaris $0.16
WDC Western Digital $1.51
CCU Compania Cervecerias Unidas $83.30
GMED Globus Medical $0.44
NSTG NanoString Technologies -$0.59
PDCE PDC Energy $1.24
MCK McKesson $4.14
MWA Mueller Water Products $0.16
APA Apache $0.56
TWO Two Harbors Investment $0.19
BKNG Booking Holdings Inc -$1.98
TNDM Tandem Diabetes Care -$0.08
SLF Sun Life Financial USA $1.17
ANGI Angie’s List -$0.04
FOXA Twenty-First Century Fox $0.57
TTGT TechTarget $0.48
MGM MGM Resorts International -$0.38
ATO Atmos Energy $0.73
LHCG LHC $1.55
AMED Amedisys $1.67
EGHT 8X8 $0.00
RVLV Revolve $0.21
QTWO Q2 $0.07
CDAY Ceridian HCM Holding Inc $0.03
EOG EOG Resources $1.54
QRVO Qorvo $2.45
HI Hillenbrand $0.77
UHAL Amerco $7.95
ANSS Ansys $1.56
CCMP Cabot Microelectronics $2.00
RYN Rayonier $0.10
MET MetLife $1.68
LNC Lincoln National $2.46
ACAD Acadia Pharmaceuticals -$0.30
RCII Rent-A-Center $1.36
ORA Ormat Technologies $0.27
NUS Nu Skin Enterprises $1.05
HR Healthcare Realty $0.06
UGI UGI $0.10
MED Medifast $3.31
KLIC Kulicke And Soffa Industries $1.36
REGI Renewable Energy $1.28
SJI South Jersey Industries $0.00
STN Stantec USA $0.47
CMP Compass Minerals International -$0.06
JACK Jack In The Box $1.48
WTS Watts Water Technologies $1.28
KW Kennedy Wilson -$0.09
CPK Chesapeake Utilities $0.70
PTVE Pactiv Evergreen $0.19
ICUI ICU Medical $1.64
HHC Howard Hughes -$0.41
UBER Uber -$0.54
DXC DXC Technology Co $0.75
ALL Allstate $3.17
CIB Bancolombia $0.50
BAK Braskem $2.83
ADT ADT $0.25
RCL Royal Caribbean Cruises -$4.35
HMC Honda Motor $0.54
UTHR United Therapeutics $3.02
SRPT Sarepta Therapeutics -$1.30

Thursday (August 5)

IN THE SPOTLIGHT: NICE SYSTEMS

NICE, the worldwide leading provider of software solutions, is expected to report its second-quarter earnings of $1.51 per share, which represents year-over-year growth of over 10% from $1.37 per share seen in the same quarter a year ago.

The company which provides enterprise software solutions worldwide in the previous quarter lifted its fiscal year 2021 EPS forecasts in the range of $6.19 and $6.39 per share, higher than the previous guidance of $6.12 to $6.32 per share. Full-year 2021 Non-GAAP total revenues are expected to be in a range of $1,800 million to $1,820 million, up from the previous guidance range of $1,790 million to $1,810 million.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE AUGUST 5

Ticker Company EPS Forecast
HL Hecla Mining $0.06
NTLA Intellia Therapeutics Inc -$0.63
VSAT Viasat $0.22
MNST Monster Beverage $0.68
RVNC Revance Therapeutics -$0.96
PFSI Pennymac Financial Services $3.42
CVCO Cavco Industries $2.14
CYRX Cryoport Inc -$0.13
VGR Vector $0.26
ARNA Arena Pharmaceuticals -$2.20
STMP Stamps $1.84
PRTA Prothena $1.00
ZTS Zoetis $1.08
CNP CenterPoint Energy $0.25
TRI Thomson Reuters USA $0.43
VER VEREIT $0.31
MFA MFA Financial $0.10
NICE Nice Systems $1.51
NFG National Fuel Gas $0.87
HIMX Himax Technologies $0.57
IRWD Ironwood Pharmaceuticals $0.22
HBI Hanesbrands $0.39
HII Huntington Ingalls Industries $2.52
MAURY Marui ADR $0.27
NWSA News Corp $0.04
ABMD Abiomed $1.05
MRNA Moderna Inc $5.96
EPAM EPAM Systems $1.93
NWS News $0.04
ARWR Arrowhead Research -$0.14
VST Victory Square Tech $0.54
TECH Bio Techne $1.70
APTV Aptiv PLC $0.67
AL Air Lease $0.83
NRG NRG Energy $1.07
TYOYY Taiyo Yuden ADR $2.65
PPL PPL $0.33
GTN Gray Television $0.30
BCRX BioCryst Pharmaceuticals -$0.23
AES AES $0.29
WCC Wesco International $1.91
FOCS Focus Financial Partners Inc $0.95
AU Anglogold Ashanti $0.90
IHRT Iheartmedia -$0.10
ADNT Adient PLC $0.16
TOELY Tokyo Electron Ltd PK $1.22
ACIW ACI Worldwide $0.07
XRAY Dentsply International $0.67
BAYRY Bayer AG PK $0.46
BCE BCE (USA) $0.63
WPP WPP ADR $1.95
NJR New Jersey Resources -$0.13
ARW Arrow Electronics $2.96
MDU MDU Resources $0.53
NVO Novo Nordisk A Fs $0.78
SHCAY Sharp ADR $0.04
RMD ResMed $1.27
LXP Lexington Realty $0.03
BDX Becton, Dickinson and Co. $2.45
IRM Iron Mountain $0.35
CI Cigna $4.96
MMS Maximus $1.09
OGE OGE Energy $0.52
SRE Sempra Energy $1.59
DUK Duke Energy $1.10
BIP Brookfield Infrastructure $0.06
PENN Penn National Gaming $0.92
BLDR Builders Firstsource $1.63
CCOI Cogent Communications $0.21
PH Parker-Hannifin $4.33
K Kellogg $1.03
ITRI Itron $0.48
WRK WESTROCK $0.97
UFS Domtar USA $1.28
IDCC InterDigital -$0.09
BERY Berry Plastics $1.50
CHH Choice Hotels International $0.90
WD Walker & Dunlop $1.97
STWD Starwood Property $0.51
STFC State Auto Financial $0.00
EPC Edgewell Personal Care $0.83
GIL Gildan Activewear USA $0.51
TAL TAL International -$0.14
THS TreeHouse Foods $0.26
FLS Flowserve $0.42
EXPE Expedia -$0.60
INSM Insmed -$0.89
PZZA Papa John’s International $0.72
NKTR Nektar Therapeutics -$0.73
CNNE Cannae $0.01
XLRN Acceleron Pharma -$0.87
PHI Philippine Long Distance Telephone $0.69
VG Vonage $0.04
ROLL Rbc Bearings $1.00
ED Consolidated Edison $0.62
HTA Healthcare Of America $0.10
ENV Envestnet $0.54
OLED Universal Display $0.87
MTZ MasTec $1.23
CSOD Cornerstone OnDemand $0.52
POST Post $0.97
IOVA Iovance Biotherapeutics -$0.51
PCTY Paylocity $0.29
DIOD Diodes $1.11
ZNGA Zynga $0.09
BCH Banco De Chile $0.41
JCOM J2 Global $2.02
RBA Ritchie Bros. Auctioneers USA $0.61
ILMN Illumina $1.36
CGNX Cognex $0.42
ALTR ALTAIR ENGINEERING $0.01
Z Zillow $0.24
TRIP TripAdvisor -$0.10
FOXF Fox Factory $1.02
QDEL Quidel $1.25
IFF International Flavors Fragrances $1.48
VOYA Voya Financial $1.48
YELP Yelp -$0.09
TDC Teradata $0.46
MSI Motorola Solutions Msi $1.92
SQ Square $0.31
LOPE Grand Canyon Education $1.09
MUR Murphy Oil $0.31
CAH Cardinal Health $1.20
AMRS Amyris -$0.13
SEAS SeaWorld Entertainment $0.31
BLL Ball $0.83
BKI Black Iron Inc. $0.54
PRI Primerica $2.92
HASI Hannon Armstrong Sustnbl Infrstr Cap $0.38
SYNA Synaptics $2.00
FEYE FireEye $0.09
NNI Nelnet $1.64
MDRX Allscripts Healthcare Solutions $0.17
OUT Outfront Media -$0.11
SEM Select Medical $0.56
SFM Sprouts Farmers Market $0.45
RLJ RLJ Lodging -$0.32
AEL American Equity Investment Life $0.50
CYTK Cytokinetics -$0.66
NVAX Novavax -$3.63
BECN Beacon Roofing Supply $1.25
AAON AAON $0.32
TPL Texas Pacific Land $7.37
EXEL Exelixis $0.06
AIG AIG $1.20
LNT Alliant Energy $0.56
ITT ITT $0.90
AMH American Homes 4 Rent $0.05
PODD Insulet $0.13
REG Regency Centers $0.31
Y Alleghany $14.72
BRKS Brooks Automation USA $0.69
G Genpact $0.54
APLE Apple Hospitality -$0.01
AGO Assured Guaranty $0.76
PNW Pinnacle West Capital $1.63
PBH Prestige Brands $0.87
REGN Regeneron Pharmaceuticals $17.91
NSIT Insights $1.85
PWR Quanta Services $1.03
W Wayfair Inc. $1.17
XEC Cimarex Energy $1.89
EVRG Evergy Inc $0.74
COMM CommScope $0.43
TRGP Targa Resources $0.29
LAMR Lamar Advertising $0.86
CNQ Canadian Natural Resource USA $0.76
IBP Installed Building Products $1.47

Friday (August 6)

Ticker Company EPS Forecast
AEE Ameren $0.79
SGAMY Sega Sammy ADR -$0.01
MGA Magna International USA $1.42
D Dominion Resources $0.77
CHBAY Chiba Bank ADR $0.74
ING Ing Groep $0.35
NCLH Norwegian Cruise Line -$1.97
SRCL Stericycle $0.69
SPB Spectrum Brands $1.58
NUAN Nuance Communications $0.17
ESNT Essent $1.26
AMCX AMC Networks $1.80
LBRDA Liberty Broadband $1.03
LBRDK Liberty Broadband Lbrdk $1.03
MD Mednax $0.32
LEA Lear $2.40
FLR Fluor New $0.05
LSXMK Liberty Media SiriusXM C $0.36
LSXMA Liberty Media SiriusXM A $0.48
GT Goodyear Tire & Rubber $0.18
VTR Ventas -$0.08
IEP Icahn Enterprises -$0.05

 

NICE Tops Q1 Earnings and Revenue Estimates; Target Price $295

NICE, the worldwide leading provider of software solutions, reported better-than-expected earnings and revenue in the first quarter, largely driven by a record surge in cloud revenue amid the ongoing COVID-19 pandemic.

The company which provides enterprise software solutions worldwide said its earnings per share rose about 15% year-on-year to $1.54, beating the Wall Street consensus estimates of $1.49 per share. The technology company lifted its fiscal year 2021 EPS forecasts in the range of $6.19 and $6.39 per share, higher than the previous guidance of $6.12 to $6.32 per share.

NICE said its first-quarter 2021 total revenues increased nearly 11% to $455.0 million, beating the market expectations of $450.0 million, up from $410.40 million registered in the same period a year ago. Full-year 2021 Non-GAAP total revenues are expected to be in a range of $1,800 million to $1,820 million, up from the previous guidance range of $1,790 million to $1,810 million.

NICE shares rose about 2% to $227.32 in pre-market trading on Friday.

Analyst Comments

NICE outperformed our estimates in Q1 due to stronger than expected product revenue, while Cloud held to expectations for 30%+ growth. The outlook remains positive as cloud momentum holds, FY estimates come up, though remain conservative, keeping us constructive on the name,” noted Sanjit Singh, equity analyst at Morgan Stanley.

“Since acquiring InContact in November 2016, NICE has emerged as one of the leading players in the fast-growing Contact Center as a Service (CCaaS) market which has helped the company sustain 28% CAGR in its cloud business since 2017 including 31% YoY in 2021. With the cloud now set to represent the majority of the business, we are ‘Overweight’ shares as we believe that a substantial growth opportunity is still in front of the company translating to at least 20%+ cloud growth thru 2022 and that NICE’s cloud business is substantially undervalued relative to its CCaaS peers such as FIVN and RNG.”

NICE Stock Price Forecast

Seven analysts who offered stock ratings for NICE in the last three months forecast the average price in 12 months of $295.71 with a high forecast of $338.00 and a low forecast of $266.00.

The average price target represents a 30.18% increase from the last price of $227.16. Of those seven analysts, six rated “Buy”, one rated “Hold” while none rated “Sell”, according to Tipranks.

Morgan Stanley gave the base target price to $338 with a high of $586 under a bull scenario and $183 under the worst-case scenario. The firm gave an “Overweight” rating on the technology company’s stock.

Several other analysts have also updated their stock outlook. NICE had its price objective lowered by analysts at Citigroup to $296 from $312. The firm presently has a “buy” rating on the technology company’s stock. Oppenheimer restated an “outperform” rating and set a $290 price objective.

Moreover, Pritchard Capital boosted their price objective to $312 from $292 and gave the stock a “buy” rating. Wedbush upped their price target to $285 from $275 and gave the company an “outperform” rating.

“Narrow-moat NICE reported strong first-quarter results that support our thesis that NICE is well poised for robust future growth, reflected by a rapidly expanding customer base, solid user metrics, and growth in CCaaS module adoption on NICE’s platform,” noted Nupur Balain, equity analyst at Morningstar.

“We are raising our fair value estimate to $252 from $242. Shares jumped 2% after open due to stronger-than-expected first-quarter performance and improved second-quarter and full-year outlooks. Shares are currently borderline undervalued, and we see a potential buying opportunity for investor.”

Check out FX Empire’s earnings calendar

NICE To Hit Record High of $334 on Robust Growth Opportunity in Cloud; $589 in Best Case

NICE’s shares could hit a fresh record high of $334, surging more than 30% from the last price, according to Morgan Stanley analysts, who said a substantial growth opportunity is still in front of the company, translating to at least 20% cloud growth through 2023.

Last month, NICE Systems reported revenue of $410 million in the third quarter, up 6.1% from the same period last year. Revenue from cloud activities rose 33.9% to $202 million while sales of products and services dipped 32% and 5.2% respectively. The software provider reported diluted EPS came in at $1.41 versus $1.30 last year, 8% growth year-over-year.

“A market-leading cloud contact center business looks poised to sustain 20%+ growth as large enterprises accelerate the shift to cloud. Against this backdrop, NICE looks undervalued when compared to FIVN & RNG using a SoTP analysis, creating an attractive opportunity at current levels. Upgrade to Overweight,” said Sanjit Singh, equity analyst at Morgan Stanley.

“With respect to NICE’s cloud opportunity, we note that: 1) just 19% of agent seats are deployed in the cloud today suggesting that majority of the market opportunity still lies ahead, 2) the current pandemic has heightened the need for flexibility and agility which we believe is causing the large enterprise market to accelerate plans to transition their operations to the cloud, and 3) NICE is well-positioned to take a significant share of seats in the larger enterprise market given its market leadership position in CCaaS with over 500K agents on CXOne and with more than 85% of Fortune 100 and 25K customers overall.”

NICE’s shares surged closed 2.4% higher at $256.08 on Wednesday; the stock is up about 50% so far this year.

Morgan Stanley gave a target price of $589 under a bull-case scenario and $180 under the worst-case scenario. Other equity analysts also recently updated their stock outlook. Jefferies lifted their target price to $285 from $265 and gave the stock a “buy” rating. Oppenheimer lifted their target price to $250 from $230 and gave the stock an “outperform” rating.

In addition, JP Morgan upgraded shares from an “underweight” rating to a “neutral” rating and lifted their target price to $261 from $210. Rosenblatt Securities lifted their target price to $290 from $265 and gave the stock a “buy” rating.

Eleven equity analysts forecast the average price in 12 months at $280.73 with a high forecast of $334.00 and a low forecast of $246.00. The average price target represents a 9.63% increase from the last price of $256.08. From those 11 analysts, eight rated “Buy”, three rated “Hold” and none “Sell”, according to Tipranks.

“Since acquiring InContact in November 2016, NICE has emerged as one of the leading players in the fast-growing Contact Center as a Service (CCaaS) market which has helped the company sustain 28% CAGR in its cloud business since 2017 including 31% YoY thru first three quarters of 2020,” said Sanjit Singh, equity analyst at Morgan Stanley.

“With the cloud now set to represent the majority of the business, we are Overweight shares as we believe that a substantial growth opportunity is still in front of the company translating to at least 20%+ cloud growth thru 2023 and that NICE’s cloud business is substantially undervalued relative to its CCaaS peers such as FIVN and RNG,” Singh added.