NICE (NASDAQ:NICE) shares fell more than 5% yesterday after the company reported its Q1 results. While Q1 EPS of $2.03 and revenue of $571.9 million came in better than the Street estimates of $1.98 and $564.02 million, respectively, 2023 guidance missed the Street estimates.
2023 EPS is expected to be in the range of $8.32-$8.52, compared to the Street estimate of $8.39, and revenue of $2.35-$2.37 billion, compared to the Street estimate of $2.36 billion.
According to the analysts at RBC Capital, they came away with increased confidence in fiscal cloud growth guidance, driven by accelerated cloud migration, improvement in retention/expansion rates, and no signs of disruption from regional bank failures.
At CWEB, we are always looking to expand our network of strategic investors and partners. If you're interested in exploring investment opportunities or discussing potential partnerships and serious inquiries. Contact: jacque@cweb.com