Nice price target lowered to $215 from $230 at Jefferies

Jefferies analyst Samad Samana lowered the firm’s price target on Nice (NICE) to $215 from $230 and keeps a Buy rating on the shares after the company reported quarterly results. The firm said that Q3 total revenue and earnings per share beat consensus estimates, with revenue upside driven by Product revenue as Cloud revenue of about $500M fell short. While management sounded constructive on momentum and expects Cloud growth to accelerate in Q4, the firm believes another disappointing Cloud quarter, a lack of a 2025 Cloud outlook, and a CEO transition leaves Nice in a lame-duck period.