NICE Has More Upside Than The Market Sees

NICE remains deeply undervalued, with robust cloud and AI revenue growth and a resilient recurring earnings base. Q2 results exceeded guidance: revenue up 7.6%, cloud revenue up 12.6%, and AI ARR up 52%, supporting a Strong Buy rating. Management raised 2026 EPS guidance to $11.06–$11.26, reaffirmed 8% revenue growth, and expects operating margins at the high end of 25–26%. Valuation is compelling: NICE trades at ~6x EV/EBITDA and 8.9x forward P/E, well below sector medians, with strong cash flow and no debt.