News

Nice NICE is expanding its footprint in the global public sector with the recent deployment of the NICE Inform solution within Italy’s national police force, the Carabinieri.

Headquartered in Rome and comprising 110,000 sworn officers, the Carabinieri will utilize the NICE Inform solution across 514 emergency communication centers, which handle more than seven million emergency calls annually.

By implementing NICE Inform, a pivotal component of the NICE Evidencentral platform, which is already used by more than 3000 public safety agencies globally, the Carabinieri will benefit from a single, comprehensive system for incident information.

The system facilitates faster data capture, precise incident reconstruction and automated quality assurance. The integration also allows centralized management of all emergency communications, offering instant access to critical incident data from any location.

Nice Price and Consensus

The advanced features of NICE Inform, such as automatic data aggregation into a timeline view, will further empower the Carabinieri to conduct thorough reviews, replay incidents and gain a detailed understanding of critical events.

Nice’s Strong Portfolio Aids Prospect

The latest move bodes well with NICE’s effort to expand its clientele, primarily driven by the robust adoption of its solutions like Evidencentral, Inform Elite and CXone.

Expanding portfolio has been a key catalyst. NICE recently announced the implementation of NICE Inform Elite at the City of Cincinnati Emergency Communications Center, enhancing operational efficiency and quality assurance for emergency and non-emergency calls through digital transformation.

NICE's focus on its cloud offerings, particularly its CXone platform, is also a major growth driver.

During the first quarter, Nice reported cloud revenues of $468.4 million, up 27% year over year. The company also saw a remarkable 200% year-over-year increase in AI deals in first-quarter 2024, highlighting the increasing demand for AI-driven CX solutions.

In March, NICE announced that Triple Impact Connections, a veteran-owned business process outsourcing (BPO) firm in the United States, opted for the NICE CXone platform to drive superior customer service and long-term value, leveraging its AI-powered capabilities for enhanced agent performance and seamless omnichannel experiences.

Nice’s efforts to enhance its customer base on the back of its robust cloud solutions are expected to drive top-line growth.

For second-quarter 2024, NICE projects non-GAAP revenues to be between $657 million and $667 million, calling for 14% year-over-year growth at the midpoint. The Zacks Consensus Estimate for revenues is pegged at $662.98 million, indicating 14.09% growth year over year.

Non-GAAP earnings are estimated in the $2.53-2.63 per share band, suggesting a 21% year-over-year rise at the midpoint. The Zacks Consensus Estimate for earnings is pegged at $2.53 per share, indicating an 18.78% year-over-year increase.

Zacks Rank & Other Stocks to Consider

Currently, Nice has a Zacks Rank #2 (Buy).

The company’s shares have dropped 4.2% year to date against the Zacks Computer & Technology sector’s rise of 17.4%.

Some other top-ranked stocks in the broader technology sector are Arista Networks ANET, Badger Meter BMI and Dropbox DBX, each sporting a Zacks Rank #1(Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Arista Networks’ shares have gained 30.6% in the year-to-date period. The long-term earnings growth rate for ANET is 15.68%.

Badger Meter’s shares have gained 27% in the year-to-date period. The long-term earnings growth rate for BMI is currently projected at 15.57%.

Shares of Dropbox have declined 22.6% in the year-to-date period. The long-term earnings growth rate for DBX is 11.44%

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.