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Needham raises its New Relic target to 24% upside

Published 08/08/2018, 10:12 AM
© Reuters.  Needham raises its New Relic target to 24% upside
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  • Needham maintains a Buy rating on New Relic (NYSE:NEWR) and raises its price target from $121 to $129, a 24% upside to yesterday’s close.
  • Analyst Jack Andrews cites the strong Q1 results and raised FY19 guidance.
  • Andrews continues to see New Relic as a “next generation” category leader.
  • New Relic shares are up 0.1% to $103.89.
  • Previously: New Relic signs definitive agreement to establish Japanese joint venture (Aug. 8)
  • Now read: Perion Network: Modeling Possible Futures


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