In a report issued on July 18, Rishi Jaluria from RBC Capital maintained a Hold rating on New Relic (NEWR – Research Report), with a price target of $45.00. The company’s shares closed last Wednesday at $61.55.
According to TipRanks.com, Jaluria is a 2-star analyst with an average return of 0.6% and a 42.8% success rate. Jaluria covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zoom Video Communications, and Duck Creek Technologies.
Currently, the analyst consensus on New Relic is a Moderate Buy with an average price target of $66.25, representing a 24.8% upside. In a report issued on July 11, Morgan Stanley also downgraded the stock to Hold with a $64.00 price target.
The company has a one-year high of $129.70 and a one-year low of $41.66. Currently, New Relic has an average volume of 1.05M.
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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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