Not Just a Nice Face; Nice Emerges as the Cloud Contact Center Front-Runner; $296 FVE

Nice provides software solutions that serve the customer engagement market, primarily, as well as the financial crime and compliance market. We believe Nice offers a compelling value proposition for investors looking to capitalize on the migration of contact centers to the cloud and the cloudification of the financial-services industry. Our fair value estimate for Nice is $296 per share, down from $320 as we model lower profitability toward the end of our explicit forecast. With shares trading around $220, we view the narrow-moat, positive moat trend company as an attractive buying opportunity.