NiCE (NICE) reported a Q3 beat on revenue and earnings, but in-line Q3 organic results and implied Q4 organic revenue guidance point to limited near-term outperformance, RBC Capital Markets said in a note emailed Friday.

Revenue in Q3 rose to $732 million, slightly above consensus, while non-GAAP earnings per share were $3.18, narrowly beating expectations, RBC said. Cloud revenue increased 13%, but the organic portion was in line with estimates after accounting for Cognigy's contribution, the firm added.

Implied Q4 organic revenue guidance came in below expectations, while the implied earnings range was also under consensus, according to the note.

For fiscal 2025, total revenue guidance was raised slightly due to Cognigy, but organic growth and margins were flat or lower, RBC analysts noted.

"With in-line Q3 organic results, and organic Q4 guidance below consensus, we continue to see limited room for near-term outperformance," RBC said.

RBC maintained an outperform rating and $190 price target on NiCE's stock.

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