A: I took my medicine on Nuix (NXL) recently. They are no doubt cheap……but it is not clear what the catalyst for any re-rating is going to be. We need to see a bottom form. My sense is a little more short term pain.

As for the brokers, there is only 1 major house that covers the stock. Morgan Stanley has an “overweight” call and a target price of $6.40.

When they initiated coverage in January, their target price was $11.00.