New Relic Inc (NEWR) Surges to All-Time High, Is Now Top Performer

July 17, 2017 - By Clifton Ray

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. As per Wednesday, September 9, the company rating was initiated by First Analysis. The rating was initiated by Guggenheim on Tuesday, December 15 with “Buy”. The firm has “Neutral” rating by Goldman Sachs given on Friday, December 11. The rating was initiated by Cowen & Co on Friday, June 24 with “Outperform”. As per Monday, September 21, the company rating was initiated by Pacific Crest. The company was initiated on Tuesday, November 17 by Needham. The rating was upgraded by DA Davidson on Wednesday, August 12 to “Buy”. The stock of New Relic Inc (NYSE:NEWR) earned “Overweight” rating by Morgan Stanley on Thursday, September 10. The rating was initiated by Guggenheim on Friday, November 18 with “Buy”. The firm earned “Outperform” rating on Thursday, September 10 by Oppenheimer.

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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