Oppenheimer analyst Timothy Horan reiterated the Outperform rating on NICE Ltd (NASDAQ: NICE), with a price target of $225, down from $250.
NICE will acquire LiveVox Holdings, Inc. (NASDAQ: LVOX) for $3.74/share in an all-cash deal, implying a firm value of $387 million, or 2.7x annualized 2Q23 revenue.
LVOX has taken significant cost-cutting measures with EBITDA margins +2,000bps year/year in 2Q23, which NICE should be able to further accelerate, the analyst adds.
Horan estimates LVOX to contribute $100 million to cloud revenue in 2024.
NICE's Customer Engagement business is driven by intensifying corporate compliance and risk-management efforts and by corporate efforts to increase ...Full story available on Benzinga.com
Related tickers: NICE, LVOX.
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