Reaffirmed: New Relic (NYSE:NEWR) Outperform Rating Reaffirmed by Analysts at BMO Capital; $117 Target in Place

August 9, 2018 - By Margaret Guttierez

New Relic, Inc. (NYSE:NEWR) Logo

New Relic (NYSE:NEWR) Rating Reaffirmed

BMO Capital now has a $117 target on shares of New Relic (NYSE:NEWR). The target means a potential upside of 11.26 % from the close price of New Relic (NYSE:NEWR). This rating was disclosed to clients in an analyst report on Wednesday, 8 August.

New Relic, Inc. (NYSE:NEWR) Ratings Coverage

Among 10 analysts covering New Relic (NYSE:NEWR), 6 have Buy rating, 0 Sell and 4 Hold. Therefore 60% are positive. New Relic has $125 highest and $67 lowest target. $108’s average target is 2.70% above currents $105.16 stock price. New Relic had 19 analyst reports since February 23, 2018 according to SRatingsIntel. The firm earned “Outperform” rating on Tuesday, June 5 by Robert W. Baird. As per Monday, April 2, the company rating was maintained by Needham. The stock has “Buy” rating by Oppenheimer on Friday, March 23. KeyBanc Capital Markets maintained the shares of NEWR in report on Monday, March 19 with “Overweight” rating. The stock of New Relic, Inc. (NYSE:NEWR) has “Equal-Weight” rating given on Wednesday, August 8 by Morgan Stanley. The firm earned “Outperform” rating on Wednesday, August 8 by BMO Capital Markets. On Friday, March 16 the stock rating was maintained by Robert W. Baird with “Buy”. Morgan Stanley maintained New Relic, Inc. (NYSE:NEWR) rating on Wednesday, June 6. Morgan Stanley has “Equal-Weight” rating and $73 target. The rating was maintained by Morgan Stanley on Wednesday, May 9 with “Equal-Weight”. BMO Capital Markets upgraded it to “Buy” rating and $9500 target in Wednesday, May 9 report.

The stock increased 2.16% or $2.22 during the last trading session, reaching $105.16. About 103,304 shares traded. New Relic, Inc. (NYSE:NEWR) has risen 119.57% since August 9, 2017 and is uptrending. It has outperformed by 107.00% the S&P500.

New Relic, Inc., a software-as-a-service company, provides digital intelligence products worldwide. The company has market cap of $5.94 billion. The companyÂ’s cloud platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It currently has negative earnings. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser applications.

More notable recent New Relic, Inc. (NYSE:NEWR) news were published by: Seekingalpha.com which released: “New Relic: More Like A Pillar Of The Cloud Than A Relic” on July 23, 2018, also Businesswire.com with their article: “New Relic Signs Definitive Agreement to Establish Japanese Joint Venture with Japan Cloud” published on August 08, 2018, Seekingalpha.com published: “New Relic: The Case Of A Dynamic Business And CEO” on July 19, 2018. More interesting news about New Relic, Inc. (NYSE:NEWR) were released by: Gurufocus.com and their article: “New Relic Inc (NEWR) CEO Lewis Cirne Sold $9.1 million of Shares” published on August 03, 2018 as well as Seekingalpha.com‘s news article titled: “New Relic, Inc. (NEWR) CEO Lew Cirne on Q1 2019 Results – Earnings Call Transcript” with publication date: August 08, 2018.

New Relic, Inc. (NYSE:NEWR) Ratings Chart

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