Pre-announced 1H results for Nuix revealed a return to growth for revenue and annualised contract value (ACV), along with cost reductions.
Management's 1H FY23 ACV guidance was around 6.5% ahead of Morgan Stanley's forecast, while statutory earnings (EBITDA) guidance was a 10% beat.
While the broker expects ongoing stock price volatility until legal matters are cleared, the 1H result is considered a constructive start by the new management team.
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