Needham analyst Jack Andrews assigned a Buy rating to New Relic (NEWR) today and set a price target of $77.00. The company’s shares closed last Tuesday at $73.50.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 26.1% and a 70.4% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and ServiceNow.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for New Relic with a $71.69 average price target, a -0.1% downside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $75.00 price target.
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The company has a one-year high of $85.50 and a one-year low of $33.49. Currently, New Relic has an average volume of 1.07M.
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New Relic, Inc. engages in the provision of cloud-based instrumentation and analytics platform that enables users to collect, store, and analyze massive amounts of data in real time. It offers New Relic APM, MOBILE, SYNTHETICS, INFRASTRUCTURE, and INSIGHTS. The company was founded by Lewis Cirne in September 2007 and is headquartered in San Francisco, CA.
