Oppenheimer Reaffirms Their Buy Rating on New Relic (NEWR)

Oppenheimer analyst Ittai Kidron maintained a Buy rating on New Relic (NEWR) yesterday and set a price target of $80.00. The company’s shares closed last Monday at $70.77.

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 30.8% and a 71.9% success rate. Kidron covers the Technology sector, focusing on stocks such as Cambium Networks, Citrix Systems, and Atlassian.

Currently, the analyst consensus on New Relic is a Strong Buy with an average price target of $82.56, a 20.0% 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 773.2K.

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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.

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