After hosting investor meetings with management, DA Davidson analyst Rishi Jaluria maintains a Buy rating on New Relic (NEWR) with a $95 price target. The analyst came away from the meetings with a greater understanding of the issues facing New Relic, especially from a product and technology perspective. Jaluria believes the company's issues as fixable and believes New Relic's product roadmap is the right move. The analyst likes the stock's risk/reward tradeoff at current share levels. Jaluria, in a research note on August 22, said that while Splunk's (SPLK) acquisition of privately-held SignalFX removes the likelihood it will buy New Relic, the latter remains an attractive target for ServiceNow (NOW) or Alphabet (GOOGL).

UBS lowered the firm's price target on ServiceNow to $875 from $920 and keeps a Buy rating on the shares. ServiceNow is still in rarified territory by growing more than 20% with 400 basis points of year over year margin expansion, but this print fell a bit short of expectations, the analyst tells investors in a research note. This print in a seasonally light 1Q quarter isn't likely to be a thesis-changer for most, UBS contends.

Meta (META), Google (GOOGL), Snap (SNAP), and Amazon (AMZN) all benefit from the U.S.' ban of TikTok, The Washington Post's Will Oremus reports. Meta CEO Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign, Oremus writes. Reference Link

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSImpinj (PI) up... To see the rest of the story go to thefly.com. See Story Here

Sees 2024 subscription gross profit margin 84.5%, income from operations margin 29%.

Sees Q2 cRPO growth 20.5% year-over-year.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news.  TIK TOK BAN... To see the rest of the story go to thefly.com. See Story Here

Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.

Microsoft (MSFT) is scheduled to report results of the third quarter of its fiscal year 2024 after the market close on Thursday, April 25, with a conference call scheduled for 5:30 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here

TikTok Policy issued the following statement on the enactment of "the TikTok Ban": "This unconstitutional law is a TikTok ban, and we will challenge it in court. We believe the facts and the law are clearly on our side, and we will ultimately prevail. The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation. This ban would devastate seven million businesses and silence 170 million Americans. As we continue to challenge this unconstitutional ban, we will continue investing and innovating to ensure TikTok remains a space where Americans of all walks of life can safely come to share their experiences, find joy, and be inspired." Publicly traded companies in the social media space that compete with TikTok include Meta Platforms (META), Alphabet (GOOGL), Pinterest (PINS) and Snap (SNAP). Reference Link