Nice price target lowered to $280 from $290 at Citi

Citi lowered the firm’s price target on Nice to $280 from $290 and keeps a Buy rating on the shares. The analyst says that following a “choppy” fiscal Q2 report and the lack of de-risking of full year cloud targets, the numbers set-up for Nice is mixed. That said, the firm believes the Q3 results could be better than feared. Nonetheless, Citi adjusted estimates modestly lower for Q4 cloud growth to reflect conservatism and potentially continued small business softness this year, and longer implementation times.