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NICE Partners With Magnet Forensics, Expands Partner Base

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NICE (NICE - Free Report) recently signed a partnership with Magnet Forensics to digitize police case building and investigations.

Per the terms of the partnership, NICE Investigate will be integrated with Magnet REVIEW. The integration will enable police agencies to automatically pull out and merge digital forensic evidence from digital evidence sources with Magnet REVIEW, streamlining investigations.

NICE Investigate is a Microsoft (MSFT - Free Report) Azure Gov cloud-based solution that brings in all necessary evidence and associated information right to law enforcement professionals.

Magnet REVIEW is the Microsoft Azure cloud-based, collaborative and secure digital forensic review platform that enables investigators to access and examine digital forensic evidence.

As both the solutions leverage Microsoft’s Azure cloud infrastructure, agencies would be able to reduce infrastructure and overhead costs while improving security and resiliency.

Nice Price and Consensus

 

Nice Price and Consensus

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Expanding Partner Base Aids Prospects

NICE has been riding on an expanding partner base and frequent customer wins. The company’s solutions, including Investigate, Robotic Process Automation, Actimize and Elite have been gaining traction in recent times.

Recently, NICE Nexidia and Enlighten were selected by the leading Japanese BPO NTT Marketing ACT to automate a major portion of its quality management process.

Around the same time, NICE announced its collaboration with Alphabet’s (GOOGL - Free Report) Google Cloud to address the growing demand for automated self-service systems.

Per the agreement, NICE’s AI-powered CXone will be integrated with Google Cloud’s Contact Center Artificial Intelligence (CCAI) applications to make self-service bots and agent-facing virtual assistants more effective.

The collaboration will enable businesses to expand their customer self-service capabilities using Alphabet-owned Google Cloud’s CCAI by integrating conversational bots.

NICE Investigate has been adopted by U.K.’s South Yorkshire Police to facilitate digital transformation in the force.

BCE (BCE - Free Report) , Canada's largest communications company, entered into an agreement with NICE to expand access to its CXone for Contact Center as a Service (CCaaS) in Canada.

The BCE and CXone combination provide customers an industry-leading contact center platform along with ultra-fast speed and low latency network. These are compulsory criteria for contact centers to provide highly flexible, digital-first customer experiences.

An expanding partner base and a robust product portfolio is driving the company’s top line.

In third-quarter fiscal 2021, NICE reported a 20% year-over-year increase in revenues, reaching $494 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.

Currently, NICE holds a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank stocks here.

NICE shares are down 4.4% in the past year against the Zacks Internet Software industry’s decline of 37.3% and the Computer and Technology sector’s rise of 8% in the past year.

The Zacks Consensus Estimate for 2021 earnings is pegged at $6.49 per share, unchanged in the past 60 days. The consensus mark for 2022 earnings is at $7.21, unchanged in the same time frame.


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