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Will Solid Demand for Cloud Solutions Aid NICE Q3 Earnings?
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Nice (NICE - Free Report) is set to report third-quarter 2020 results on Nov 12.
For the quarter, the company expects revenues between $403 million and $413 million. The Zacks Consensus Estimate for revenues currently stands at $408 million, which indicates growth of 5.4% from the year-ago quarter’s reported figure.
Moreover, Nice expects non-GAAP earnings between $1.33 and $1.43 per share. The consensus mark for earnings has increased a penny to $1.39 per share over the past 30 days, indicating 6.9% growth from the figure reported in the year-ago quarter.
Notably, the company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 3.1%.
Let’s see how things are shaping up for this announcement.
Factors to Consider
Nice’s third-quarter results are expected to have benefited from robust demand for its cloud solutions, especially the CXone solution, in the coronavirus-led remote working environment.
The company is expected to have benefited from the ongoing digital transformation to cloud amid disruptions caused by the coronavirus. Cloud revenues grew 30% year over year in the previous quarter and the trend is expected to have continued in the to-be-reported quarter.
Notably, in August, Nice unveiled NICE Actimize Xceed, which integrates the capabilities of both Guardian Analytics and NICE Actimize to provide anti-money laundering and fraud prevention services. This is likely to have extended the bandwidth of the company’s financial crime risk management solutions.
Further, in July, the company launched SURVEIL-X Conduct to help financial services organizations enhance their employee surveillance capabilities amid the work-from-home mode of operation.
Additionally, Nice launched Real-time Interaction Guidance, powered by its AI Platform — ENLIGHTEN. The new solution provides real-time agent guidance based on predictive behavioral models.
Nice also introduced SURVEIL-X studio, which enhances the risk detection capabilities of its SURVEIL-X Holistic Trade Surveillance solution by providing self-service analytics.
Notably, the new solutions are likely to have added significant value to NICE’s existing product portfolio and contributed to the top-line growth in the to-be-reported quarter.
Markedly, new partnerships with companies like Orange Business Services and ConvergeOne along with existing partnerships with Zoom Video (ZM - Free Report) , Infosys (INFY - Free Report) and Microsoft (MSFT - Free Report) are expected to have driven the expansion of this Zacks Rank #3 (Hold) company’s enterprise clientele.
Nice entered into a partnership with Australia-based electricity company, Ergon Energy Retail, to deliver NICE inContact CXone, as its cloud contact center provider. This is expected to have strengthened the company’s global footprint.
Further, the company announced a partnership concerning its Robotic Automation business with Minit, to provide process automation with unequaled accuracy.
Moreover, Nice was selected by global multi-asset investment platform, eToro, for its SURVEIL-X Markets Surveillance solution.
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Will Solid Demand for Cloud Solutions Aid NICE Q3 Earnings?
Nice (NICE - Free Report) is set to report third-quarter 2020 results on Nov 12.
For the quarter, the company expects revenues between $403 million and $413 million. The Zacks Consensus Estimate for revenues currently stands at $408 million, which indicates growth of 5.4% from the year-ago quarter’s reported figure.
Moreover, Nice expects non-GAAP earnings between $1.33 and $1.43 per share. The consensus mark for earnings has increased a penny to $1.39 per share over the past 30 days, indicating 6.9% growth from the figure reported in the year-ago quarter.
Notably, the company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 3.1%.
Nice Ltd. Price and EPS Surprise
Nice Ltd. price-eps-surprise | Nice Ltd. Quote
Let’s see how things are shaping up for this announcement.
Factors to Consider
Nice’s third-quarter results are expected to have benefited from robust demand for its cloud solutions, especially the CXone solution, in the coronavirus-led remote working environment.
The company is expected to have benefited from the ongoing digital transformation to cloud amid disruptions caused by the coronavirus. Cloud revenues grew 30% year over year in the previous quarter and the trend is expected to have continued in the to-be-reported quarter.
Notably, in August, Nice unveiled NICE Actimize Xceed, which integrates the capabilities of both Guardian Analytics and NICE Actimize to provide anti-money laundering and fraud prevention services. This is likely to have extended the bandwidth of the company’s financial crime risk management solutions.
Further, in July, the company launched SURVEIL-X Conduct to help financial services organizations enhance their employee surveillance capabilities amid the work-from-home mode of operation.
Additionally, Nice launched Real-time Interaction Guidance, powered by its AI Platform — ENLIGHTEN. The new solution provides real-time agent guidance based on predictive behavioral models.
Nice also introduced SURVEIL-X studio, which enhances the risk detection capabilities of its SURVEIL-X Holistic Trade Surveillance solution by providing self-service analytics.
Notably, the new solutions are likely to have added significant value to NICE’s existing product portfolio and contributed to the top-line growth in the to-be-reported quarter.
Markedly, new partnerships with companies like Orange Business Services and ConvergeOne along with existing partnerships with Zoom Video (ZM - Free Report) , Infosys (INFY - Free Report) and Microsoft (MSFT - Free Report) are expected to have driven the expansion of this Zacks Rank #3 (Hold) company’s enterprise clientele.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Q3 Developments
Nice entered into a partnership with Australia-based electricity company, Ergon Energy Retail, to deliver NICE inContact CXone, as its cloud contact center provider. This is expected to have strengthened the company’s global footprint.
Further, the company announced a partnership concerning its Robotic Automation business with Minit, to provide process automation with unequaled accuracy.
Moreover, Nice was selected by global multi-asset investment platform, eToro, for its SURVEIL-X Markets Surveillance solution.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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