Needham Reaffirms Their Buy Rating on New Relic (NEWR)
In a report released today, Jack Andrews from Needham maintained a Buy rating on New Relic (NEWR), with a price target of $110.00. The company’s shares closed last Monday at $66.01.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 21.6% and a 65.5% success rate. Andrews covers the Technology sector, focusing on stocks such as ServiceNow, Atlassian, and Talend SA.
New Relic has an analyst consensus of Strong Buy, with a price target consensus of $82.50, which is a 21.5% upside from current levels. In a report issued on January 21, BMO Capital also maintained a Buy rating on the stock with a $78.00 price target.
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The company has a one-year high of $109.00 and a one-year low of $50.00. Currently, New Relic has an average volume of 751.4K.
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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.