New Relic Inc (NEWR)’s Trend Up, Especially After Today’s All-Time High Milestone

July 17, 2017 - By Richard Conner

The stock of New Relic Inc (NYSE:NEWR) reached all time high today, Jul, 17 and still has $51.18 target or 6.00 % above today’s $48.28 share price. This indicates more upside for the $2.70B company. This technical setup was reported by Barchart.com. If the $51.18 PT is reached, the company will be worth $162.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 1.22% or $0.58 on July 17, reaching $48.28. About 418,057 shares traded. New Relic Inc (NYSE:NEWR) has risen 65.48% since July 17, 2016 and is uptrending. It has outperformed by 48.78% the S&P500.

New Relic Inc (NYSE:NEWR) Ratings Coverage

Among 11 analysts covering New Relic Inc (NYSE:NEWR), 11 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. New Relic Inc had 19 analyst reports since August 7, 2015 according to SRatingsIntel. Guggenheim initiated it with “Buy” rating and $50 target in Friday, November 18 report. The firm has “Buy” rating by Guggenheim given on Tuesday, December 15. On Monday, September 21 the stock rating was initiated by Pacific Crest with “Overweight”. The stock of New Relic Inc (NYSE:NEWR) earned “Neutral” rating by Goldman Sachs on Friday, December 11. As per Friday, June 24, the company rating was initiated by Cowen & Co. Oppenheimer initiated the stock with “Outperform” rating in Thursday, September 10 report. The stock has “Buy” rating by Needham on Tuesday, November 17. First Analysis initiated the shares of NEWR in report on Wednesday, September 9 with “Overweight” rating. DA Davidson upgraded New Relic Inc (NYSE:NEWR) on Wednesday, August 12 to “Buy” rating. The rating was upgraded by Morgan Stanley to “Overweight” on Thursday, September 10.

More news for New Relic Inc (NYSE:NEWR) were recently published by: Barrons.com, which released: “New Relic CEO Cirne: When JP Morgan Says It’s Moving To Cloud, You Know This …” on May 09, 2017. Foxbusiness.com‘s article titled: “New Relic Expects Better-than-forecast Quarterly Results” and published on April 04, 2017 is yet another important article.

New Relic, Inc. is a provider of enterprise software. The company has market cap of $2.70 billion. The Company’s cloud platform and range of products enable organizations to collect, store and analyze software data in real time. It currently has negative earnings. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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