I agree with you technology is where you want to be longer term. I reckon we will end up somewhere in between pre-Covid tech consumption and peak lockdown tech consumption. On average people will work from home more than pre-Covid but not full time work from home like during lockdown, they will do more online shopping, etc.. but it will be less than in the middle of the lockdown.
The issue I have is the valuation. NXT has doubled in price yet the contracted utilisation has only increased 33% this year and yes there are options which will be taken up in FY21. I believe FY21 is likely to be the best sales year.
Part of the price increase is based on PE expansion and not all aligned to sales, EVBITA growth.
Its a great company and I will be back on the register. $14 IMO is a bit much. $10-11 is a more reasonable price tag.
NXT Price at posting:
$12.25 Sentiment: None Disclosure: Not Held
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