Wall Street analysts forecast that Nice (NICE) will report quarterly earnings of $3.21 per share in its upcoming release, pointing to a year-over-year increase of 6.3%. It is anticipated that revenues will amount to $778.66 million, exhibiting an increase of 7.9% compared to the year-ago quarter.
The current level reflects a downward revision of 5.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Nice metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue by Business Model- Cloud' will reach $602.26 million. The estimate indicates a year-over-year change of +12.8%.
Analysts forecast 'Revenue by Business Model- Services' to reach $143.83 million. The estimate suggests a change of -3.9% year over year.
Analysts' assessment points toward 'Revenue by Business Model- Product' reaching $32.57 million. The estimate indicates a year-over-year change of -14.3%.
View all Key Company Metrics for Nice here>>>
Nice shares have witnessed a change of -8.5% in the past month, in contrast to the Zacks S&P 500 composite's -2% move. With a Zacks Rank #4 (Sell), NICE is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Nice (NICE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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