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Fly News Breaks for February 7, 2019
NEWR
Feb 7, 2019 | 07:28 EDT
Deutsche Bank analyst Gray Powell raised his price target for New Relic to $120 citing the company's better than expected fiscal Q3 results. While the company's Q4 revenue and earnings guidance were ahead of expectations, investors will have some questions on the implied Q4 billings guidance "which was a little light relative to street forecasts," Powell tells investors in a post-earnings research note. He reiterates a Buy rating on New Relic.
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