Yahoo Finance Nice (NICE) Boosts Customer Experience With CXone Mpower
Nice NICE is expanding its footprint in the customer experience (CX) landscape with the recent launch of CXone Mpower, the world’s first and only CX-aware AI platform.
CXone Mpower seamlessly integrate copilot, autopilot and actions within the CXone ecosystem, harnessing proprietary AI technologies, such as continuous experience memory and CX awareness.
Designed to meet the growing demand for comprehensive CX AI solutions, CXone Mpower enhances employee performance, enables seamless skill transfer between humans and AI, and delivers fully aware proactive service, positioning Nice at the forefront of the CX industry.
Nice’s Strong Portfolio Aids Prospect
The latest solution strengthens NICE’s portfolio as it continues to focus on expanding cloud offerings, particularly its CXone platform.
Nice Price and Consensus
Nice price-consensus-chart | Nice Quote
During the first quarter, it reported cloud revenues of $468.4 million, up 27% year over year. The company also saw a remarkable 200% year-over-year increase in AI deals in first-quarter 2024, highlighting the rising demand for AI-driven CX solutions.
Expanding portfolio has been a critical catalyst for NICE. With the recent announcement of 1CX, a Unified Communications as a Service solution integrated with the CXone platform, priced at $5 per user per month, the company aims to offer comprehensive voice, messaging, video collaboration and customer relationship management integration to streamline organizational communication and boosting productivity.
Nice’s expanding portfolio is helping it to fend off competitors from other industry players like Five9 FIVN, Salesforce CRM and 8X8 EGHT, who are also extending their offerings in the CX market.
Five9 recently announced an enhanced collaboration with Salesforce, integrating AI-powered solutions to enhance customer experiences in contact centers through real-time agent guidance and conversation intelligence.
In February, 8x8, launched 8x8 Engage, an AI-powered solution that facilitates cross-organization customer engagement, enhancing customer experiences and driving business success by addressing the needs of customer-facing employees outside of the contact center with tailored tools and capabilities.
Conclusion
Nice’s shares have declined 12.3% year to date, underperforming the Zacks Computer & Technology sector’s 6.7% growth.
Nevertheless, Nice’s efforts to enhance its customer experience on the back of its robust cloud solutions are expected to drive top-line growth.
For second-quarter 2024, NICE projects non-GAAP revenues between $657 million and $667 million, calling for 14% growth at the midpoint from the year-ago levels. The Zacks Consensus Estimate is pegged at $662.98 million, indicating 14.09% growth from the year-earlier actuals.
Non-GAAP earnings are estimated in the $2.53-2.63 per share band, suggesting 21% rise at the midpoint from the prior-year figures. The Zacks Consensus Estimate is pegged at $2.57 per share, indicating an 20.66% improvement from the year-ago quarter numbers.
Moreover, NICE is trading at a discount with a forward 12-month P/E of 15.46X compared with the Zacks Internet Software industry’s 34.46X. It reflects significant undervaluation.
The company has a Zacks Rank #2 (Buy) and a Growth Score of A, a combination that offers a good investment opportunity, per the Zacks proprietary methodology. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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