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NEWR

New Relic

$72.61

1.96 (2.77%)

07:00
01/16/20
01/16
07:00
01/16/20
07:00

New Relic appoints Bill Staples as Chief Product Officer

New Relic has appointed Bill Staples as Chief Product Officer on February 14. Staples joins New Relic from Adobe. Previously, he spent 17 years at Microsoft in a number of product leadership roles. Most recently at Microsoft, he was corporate vice president for the Azure Application Platform.

  • 04

    Feb

  • 24

    Feb

NEWR New Relic
$72.61

1.96 (2.77%)

01/10/20
LEHM
01/10/20
DOWNGRADE
Target $63
LEHM
Underweight
New Relic downgraded to Underweight on competitive headwinds at Barclays
Barclays analyst Raimo Lenschow downgraded New Relic to Underweight from Equal Weight with a price target of $63, down from $66. The analyst thinks the company will face more competitive headwinds in 2020, leading the stock to be relative underperformer in 2020.
01/13/20
UBSW
01/13/20
UPGRADE
Target $98
UBSW
Buy
New Relic upgraded to Buy from Neutral at UBS
UBS analyst Jennifer Swanson Lowe upgraded New Relic to Buy from Neutral with a price target of $98, up from $68. The combination of "solid" product and an attractive total addressable market, estimates implying little improvement in execution, and valuation "30% below where it should be" based on peers creates an attractive opportunity with significant potential for shares to re-rate higher, Lowe tells investors in a research note. She thinks consensus estimates are now low enough that New Relic's revenue growth can accelerate from 17% projected in fiscal 2021 back into the 20's as sales execution stabilizes, causing the stock to re-rate 30% higher or more.
01/13/20
01/13/20
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nvidia (NVDA) upgraded to Hold from Underperform at Needham with analyst Rajvindra Gill citing his "positive" meeting with the company's management at CES. 2. Goldman Sachs (GS) upgraded to Outperform from Market Perform at JMP Securities. 3. 3D Systems (DDD) upgraded to Buy from Hold at Craig-Hallum with analyst Greg Palm saying he believes the narrative is changing at 3D Systems. With a focus on shareholder value, coupled with a return to revenue growth and a major uptick in profitability, Palm thinks shares should start to work higher. 4. New Relic (NEWR) upgraded to Buy from Neutral at UBS with analyst Jennifer Swanson saying the combination of "solid" product and an attractive total addressable market, estimates implying little improvement in execution, and valuation "30% below where it should be" based on peers creates an attractive opportunity with significant potential for shares to re-rate higher. 5. Ericsson (ERIC) upgraded to Buy from Neutral at Citi with analyst Amit Harchandani saying he has a more optimistic view on the pace of 5G adoption and increased his forecast for the radio access network market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/20
RHCO
01/14/20
NO CHANGE
Target $190
RHCO
Buy
Splunk, New Relic price targets raised at SunTrust
SunTrust analyst Joel Fishbein keeps his Buy rating on Splunk (SPLK) and New Relic (NEWR) while raising their respective price target to $190 from $175 and to $85 from $80 as part of his broader 2020 Infrastructure Software Outlook research note. The analyst contends that both companies have recently made strategic decisions that address key issues in their business while positioning the companies for strong returns in 2020. For Splunk, Fishbein says the concerns around the company's transition to a recurring revenue model were alleviated by the company's ARR and RPO metrics as well as operating cash flow forecast of $1B for FY23. For New Relic, the analyst contends that while the company's Q2 deferred revenue and billings were softer than expected, its 112% net retention rate indicates that its new product adoption has started to take hold.

TODAY'S FREE FLY STORIES

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Taoping

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TDOC

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VERB

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NVRO

Nevro

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MU

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OGI

Organigram

$3.24

-0.145 (-4.28%)

08:37
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08:37
Conference/Events
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WDC

Western Digital

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-0.36 (-0.52%)

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  • 30

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GH

Guardant Health

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1.06 (1.27%)

08:36
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ETN

Eaton

$95.70

0.87 (0.92%)

08:35
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  • 04

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SLB

Schlumberger

$38.38

-0.38 (-0.98%)

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PCOM

Points International

$15.20

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Points International sees FY19 gross profit $59.2M-$59.6M »

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TTC

Toro Company

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OMI

Owens & Minor

$5.52

-0.27 (-4.66%)

08:33
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MMP

Magellan Midstream

$64.28

-0.72 (-1.11%)

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  • 30

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PCOM

Points International

$15.20

(0.00%)

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MMP

Magellan Midstream

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  • 30

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SINO

Sino-Global

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EVOK

Evoke Pharma

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DL

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0.085 (0.95%)

, FRAN

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DL

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NTGN

Neon Therapeutics

$1.70

0.01 (0.59%)

08:28
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KSU

Kansas City Southern

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4.77 (2.95%)

08:27
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08:25
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EVSI

Envision Solar

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