Rosenblatt analyst Catharine Trebnick maintained NICE Ltd (NASDAQ:NICE) with a Buy rating and lowered the price forecast from $200 to $180 Thursday.

Trebnick lowered her price forecast due to reduced fiscal 2025 and 2026 revenue estimates, citing macroeconomic uncertainty, which could further delay multinational Contact Center as a Service (CCaaS) deployments.

The price target reflects ~3.4 times (from ~4 times) on the analyst’s revenue estimate of 7% Y/ Y in fiscal 2026.

Also Read: Five9 Leans Into Artificial Intelligence While It Cuts Workforce

NICE stock is trading at 2.7 times EV/calendar 2026 sales, growing at 7% Y/Y and a slight premium to the CCaaS group average of 2.3 times, growing at 9% Y/Y.

Trebnick’s valuation is justified based on higher free cash flow assumptions (26% Y/Y versus the peer group of 19%). The analyst has decreased her fiscal 2025 revenue growth assumption to 6% below fiscal 2025 guidance (+7% growth).

Trebnick’s fiscal 2025 estimate has been revised to $2.91 billion (+6% growth) from $2.93 billion (+7% growth) and below the Street’s $2.91 billion (+7% growth).

Similarly, she has decreased her fiscal 2026 estimate to $3.12 billion (+7% growth) from $3.22 billion (+10% growth) and below the Street’s $3.12 billion (+7% growth).

Based on lower revenue, Trebnick’s adjusted operating income moves slightly lower to $909 million (31% margin), below the current Street estimate ($919 million).

For fiscal 2026, the analyst’s adjusted operating income is now $1.02 billion ( 32.6% margin), slightly above the Street estimate of $1.01 billion (32.3% margin).

Based on lower sales volume, Trebnick’s fiscal 2025 adjusted EPS is $12.13 (down from $12.14), below the Street estimate of $12.18.

Looking ahead to fiscal 2026 and lower revenue growth of 7%, the analyst’s adjusted EPS moves to $13.30 (versus the Street estimate of $13.36).

Trebnick noted that the company benefits from AI adoption in CCaaS and is a share donor from Avaya in the large enterprise segment.

Price Action: NICE stock closed higher by 2.06% at $154.52 on Thursday.

Read Next:

• Fiserv Delivers Solid Q1, Strong Margins And Client Wins, But Stock Slides

Photo via Shutterstock

Latest Ratings for NICE

View More Analyst Ratings for NICE

View the Latest Analyst Ratings

Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.

Get the latest stock analysis from Benzinga?

• NICE (NICE): Free Stock Analysis Report

This article NICE Lowered Revenue Outlook But Bullish Analyst Sees AI Momentum And Strong Cash Flow originally appeared on Benzinga.com

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.