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New Relic price target raised to $88 from $74 at Canaccord
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New Relic price target raised to $88 from $74 at Canaccord

Canaccord analyst Kingsley Crane raised the firm’s price target on New Relic to $88 from $74 and keeps a Buy rating on the shares. The analyst said its story is improving from a few angles; the company added the most new active customer accounts that it has in over two years, the long-awaited release of its native Azure service should be a boon for new customer additions and existing customer expansions, and its "Rule of 40" growth/margin metric has improved.

Published first on TheFly

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