NEW YORK (TheStreet) -- Shares of Nice Systems (NICE) finished the day in the green, having traded higher by 1.2% to $65.19 on Thursday, following a rating upgrade to "market outperform" from "market perform" at JMP Securities.
The rating change comes as the firm believes the inContact (SAAS) purchase should be a transformational deal for Nice Systems.
"We feel [the deal] may be more accretive to 2017 earnings than investors appreciate, it adds 100% recurring revenue to NICE (leading to a business with around 60% of revenue recurring in 2017) and could potentially accelerate NICE's revenue growth rate to 35% next year," the firm said in a note.
JMP Securities set a $78 price target on Nice Systems stock.
Nice Systems is a Ra'anana, Israel-based global software company that provides solutions for enterprises and security-sensitive organizations for the prevention of financial crimes and fraud, and for security and public safety.
Separately, TheStreet Ratings has set a "buy" rating and a score of A+ on Nice Systems stock. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that TheStreet Ratings covers.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. Although no company is perfect, currently TheStreet Ratings does not see any significant weaknesses which are likely to detract from the generally positive outlook.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: NICE