Narrow-Moat Nice Raises Recurring Revenue and Cloud Target; $108 FVE Maintained
Nice Ltd. reported its third quarter of fiscal 2018, with both revenue and earnings in line with our expectations. We are maintaining our $108 per share fair value estimate and narrow moat rating. Nice’s cloud revenue grew about 21% year over year, with the firm raising its $500 million in recurring cloud revenue target to $550 million. Our estimates track closely to this revised target. With Nice’s CXOne product as the firm’s flagship offering, the firm is continuing to transition from on-premi...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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