NICE (NASDAQ:NICE) shares rose in premarket buying and selling on Tuesday as funding agency Piper Sandler upgraded the Israeli-based software program firm, citing win-rates and “optimistic” new business trends.

Analyst James Fish raised his score on NICE (NICE) to chubby from impartial and boosted his per-share value goal to $227, noting that the corporate has picked up “accessible” cloud seats as incumbents have continued to battle as a result of a variety of points, in addition to the optimistic trends and the corporate having a extra “resilient” base.

In addition, Fish cited the second-half of the 12 months as an “inflection level” for recurring income and the potential spin-out of its FCC business.

“NICE’s valuation is ‘not a steal’ on present estimates, however with these optimistic dynamics & valuation having are available in, we’ve a extra favorable view at these ranges,” Fish wrote in a word to purchasers.

Delving deeper, the analyst famous NICE’s (NICE) CXone must be one of many “major winners” within the buyer expertise market because it goes from on-premise to contact middle as a service, or CCaas, with doubtlessly as much as 11.5M cloud seats by 2026, up from 5M presently.

“…Incumbents’ struggles are rising that would shift +$1B in [annual recurring revenue] in 2023, and as such, we count on NICE’s win-rates of cloud-seats accessible are stabilizing and will even enhance medium time period,” Fish defined.

Earlier this month, NICE (NICE) introduced new Robotic Process Automation capabilities, utilizing AI to establish targeted alternatives for automation.

Analysts are largely optimistic on Nice (NICE). It has a BUY score from Seeking Alpha authors, whereas Wall Street analysts charge it a BUY. Conversely, Seeking Alpha’s quant system, which constantly beats the market, charges NICE a HOLD.