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Fly News Breaks for September 17, 2019
NEWR
Sep 17, 2019 | 07:38 EDT
Cowen analyst J. Derrick Wood lowered his price target on New Relic to $80 from $100 following management changes at the company. The company cut its guidance along with announcing the departure of its CRO and CTO officers. The analyst remains constructive as the company seems to be taking more action to increase change velocity and most investors already expected numbers needed to be reset. Wood maintained his Outperform rating on New Relic shares.
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