Jefferies says macro uncertainty could weigh on Australia's Nuix; cuts PT

Nuix

12/03/2025 18:37

** Jefferies lowers earnings estimate for Australian software firm Nuix NXL.AX on the back of macroeconomic uncertainty

** Brokerage trims price target to A$4.9 from A$6.1 but retains "buy" rating

** Jefferies now expects statutory net loss after tax of A$4 mln ($2.52 mln) for FY25 vs earlier estimate loss A$3 mln

** Says a longer procurement cycle for new contracts to also cause larger than previously forecast drag on earnings as Nuix negotiates more commercial upsell opportunities

** Brokerage remains positive on Nuix Neo software platform as it accounted for majority of co's annual contract value (ACV) growth drivers in IH25

** Expects Neo's ACV to see better organic growth over medium term driven by tailwinds in data growth — Jefferies

** Nuix down 46% so far this year

($1 = 1.5850 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com))