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NICE · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is NICE Ltd. (NICE) stock moving?
NICE beat Q3 2026 consensus on both sales ($790.7M vs $785.9M) and adjusted EPS ($2.84 vs $2.77), and raised FY26 adjusted EPS guidance to $11.12-$11.32. AI ARR grew 46% to $392M, and the company repurchased $72.2M of shares in the quarter. The market reaction was negative: the stock fell from $106.27 on Nov 3 to $99.59 on Nov 4, on volume of 1.91M versus a typical 400K-600K. Several items likely tempered the reaction. Sales guidance was only reaffirmed, FY26 cloud growth is about 12%, reported Q3 growth of 8% included an atypical $10M customer credit (9.4% without it), and the company announced a 5% workforce cut with $15M-$20M of restructuring charges mostly in Q4. Since Nov 4 the stock has made lower closes (96.00, 96.15, 96.68, 93.73) and hit an intraday low of $92.67 on Nov 10, down about 23% from the Oct 26 close of $122.41. Volume has faded to 395K on Nov 10, which suggests selling pressure is easing but has not reversed. RBC (Outperform, target cut to $130) and Citizens (Market Outperform, target cut to $158) kept positive ratings while lowering targets, which signals they still see upside but less of it. Overall, the fundamental news is mixed to positive, while the price trend remains weak.
News behind the analysis
- NICE Q3 Adj. EPS $2.84 Beats $2.77 Estimate, Sales $790.741M Beat $785.925M EstimateNICE reported Q3 2026 adjusted EPS of $2.84 and sales of $790.7M, both above consensus estimates. Revenue grew 8% year over year.
- NICE Raises FY26 Adj. EPS Guidance To $11.12-$11.32NICE raised its full-year 2026 adjusted EPS guidance. The company reaffirmed its FY26 sales guidance of $3.17B-$3.19B.
- NICE Reaffirms FY26 Sales Guidance Of $3.17B-$3.19BSales guidance was held rather than raised, which limited the upside to the top-line outlook. Cloud revenue growth for FY26 is expected at about 12%.
- NICE Ltd. Reports Q3 2026 Financial Results and Announces Workforce ReductionNICE reported Q3 2026 revenue of $790.7 million and announced a 5% workforce reduction under a new operating-model efficiency initiative.
- NICE To Cut Global Workforce By About 5%; Sees $15M-$20M Of Restructuring Charges, Mostly In Q4The 5% global headcount cut is expected to bring $15M-$20M of restructuring charges, mostly booked in Q4. Those charges will weigh on near-term reported results.
- NICE Q3 AI ARR $392M, Up 46% YoYAI annual recurring revenue reached $392M in Q3, up 46% year over year. This is the strongest growth metric in the quarter.
- NICE Q3 Revenue Growth Would Have Been 9.4% Excluding Atypical $10M Customer CreditReported Q3 growth of 8% was held down by an atypical $10M customer credit. Excluding it, growth would have been 9.4%.
- RBC Capital Maintains Outperform on NICE, Lowers Price Target to $130RBC kept its Outperform rating but cut its price target to $130. The shares closed at $93.73 on Nov 10, about 39% below that target.
- Citizens Maintains Market Outperform on NICE, Lowers Price Target to $158Citizens kept its Market Outperform rating but cut its price target to $158. That target is roughly 69% above the Nov 10 close.
About NICE Ltd
NICE (styled NiCE) is a software company based in Ra'anana, Israel. It sells CXone, a cloud platform that runs customer-service contact centers, along with AI tools for those centers and the Actimize financial-crime and compliance software. What sets it apart is that it is one of the largest cloud contact-center vendors, and it bought Cognigy to build conversational and 'agentic' AI agents directly into CXone.
How it makes money
Most of its revenue comes from cloud subscriptions, mainly CXone seats, AI add-ons and Actimize cloud products. Cloud was about 78% of revenue in Q2 2026. Professional and maintenance services make up roughly 16% and are shrinking, and on-premise product licenses are about 6%. Quarterly revenue is roughly $780–790 million. About 80% of sales come from the Americas.
What usually moves NICE
- Cloud revenue growth and CXone seat growth
- Uptake of AI products (AI ARR, Cognigy deals)
- Competition from AI-native startups and other contact-center vendors
- Large enterprise contract wins and renewals
- Profit margins and cost moves such as the 2026 workforce cut