NICE (NASDAQ: NICE) shares have gained 9% in the past month, outperforming the Zacks Internet Software industry's decline of 0.1%. The upside can be attributed to NICE's strong growth prospect. It boasts an innovative portfolio with growing adoption of solutions like Actimize, Evidencentral, Inform Elite and CXone. The company's focus on its cloud offerings, particularly its CXone platform, has been a major growth driver. In the first quarter of 2024, NICE reported cloud revenues of $468.4 million, up 27% year over year. It witnessed a remarkable 200% year-over-year increase in AI deals in first-quarter 2024, highlighting the increasing demand for AI-driven CX solutions. NICE's efforts to enhance its customer base on the back of its robust cloud solutions is a key catalyst. It has more than 25K customers with more than 85% of Fortune 100 customers. For 2024, cloud revenues are expected to grow roughly 18% or more. NICE's continuous investments in the global expansion of its cloud platform will help its aim of reaching 75% cloud gross margin in the next three to five years, which reflects the benefits of an innovative portfolio. Robust Portfolio Boosts NICE's Prospects NICE's policy of frequently updating its portfolio has been a key catalyst as it helps in fending off competitors from other industry players like Five9 (NASDAQ: FIVN), Salesforce and 8X8 (NASDAQ: EGHT). YTD Performance Image ...