UPDATE: JPMorgan Downgrades NICE Systems Ltd (NICE) to Neutral on Valuation

January 27, 2020 4:31 AM EST
Get Alerts NICE Hot Sheet
Price: $282.04 +1.69%

Rating Summary:
    11 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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(Updated - January 27, 2020 4:44 AM EST)

(updating comment)

JPMorgan analyst Paul Coster downgraded NICE Systems Ltd (NASDAQ: NICE) from Overweight to Neutral with a price target of $163.00.

The analyst comments "We are downgrading NICE to Neutral based on valuation. NICE stock is trading at 27.3 times our CY21 PF EPS estimate of $6.50 and 18 times forward EV/EBITDA. An historically elevated multiple seems justified given the firm’s successful transition to the cloud, but the overall revenue and earnings trajectory looks fully valued at this point. This downgrade is not a call to sell or
short the stock."

For an analyst ratings summary and ratings history on NICE Systems Ltd click here. For more ratings news on NICE Systems Ltd click here.

Shares of NICE Systems Ltd closed at $177.04 yesterday.


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