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RBC Capital Maintains Their Hold Rating on New Relic (NEWR)

RBC Capital analyst Rishi Jaluria maintained a Hold rating on New Relic (NEWRResearch Report) on May 19 and set a price target of $45.00. The company’s shares closed last Friday at $46.62, close to its 52-week low of $41.66.

According to TipRanks.com, Jaluria is a 3-star analyst with an average return of 0.8% and a 42.0% success rate. Jaluria covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zoom Video Communications, and Duck Creek Technologies.

New Relic has an analyst consensus of Moderate Buy, with a price target consensus of $66.29, which is a 41.1% upside from current levels. In a report issued on May 13, Needham also downgraded the stock to Hold.

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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 1.02M.

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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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