Broker price target upgrades

GS has upgraded their PT to $2.90 from $2.55

"NEA delivered a FY20 result (refer to our first take here) we regard
as solid given the uncertain macro backdrop and significant
restructuring undertaken by NEA (headcount fell 13% in the half).
No specific guidance was provided but it was indicated the first
seven weeks of FY21 are seeing similar year-on-year growth as that
experienced in the same period last year (for context 1H20 ACV
growth was +23% yoy even after material churn impacted its
growth late in 1H20). Our ACV growth assumptions remain
conservative: +18% in FY21E and +20% in FY22E. This compares
to NEA’s unchanged medium to long-term growth rate targets of
20-40% beyond an uncertain FY21. NEA forecasts a Net cash
position of A$32-35mn in FY21 (GSe A$34.5mn) which should
reduce the risk of requiring further capital in the absence of M&A or
geographic expansion opportunities."