The market doesn't buy a stock on "why is it not" at a certain price, but "why should it be?"
If things line up the way they appear to be, the market may bottom and turn later this year and that could help move NUAN toward $20. What is your case that it should be $20? Non-GAAP can't be used to calculate P/E, R.O.E., or P.E.G. Please share your metric in case there is another good way to look at the valuation that we are missing.