Morgan Stanley analyst Sanjit Singh said he came away from New Relic's analyst day "optimistic" that a trough in growth will come in early FY21. The focus of the event was how the company plans to translate its launch of new products into better growth and newly appointed Chief Operating Officer Michael Christenson explained that the centerpiece of his strategy is a plan to add about 1,000 customers with annual spend over $100K over the next three years. He continues to see a compelling risk/reward for New Relic shares and maintains an Overweight rating and $75 price target on the stock.