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Rosenblatt Securities Sticks to Their Hold Rating for New Relic Inc

May 14, 2020

Rosenblatt Securities analyst Yun Kim maintained a Hold rating on New Relic (NYSE:NEWR) Inc on Thursday, setting a price target of $65, which is approximately 10.11% above the present share price of $59.03.

Kim expects New Relic Inc to post earnings per share (EPS) of -$0.46 for the second quarter of 2020.

The current consensus among 9 TipRanks analysts is for a Moderate Buy rating of shares in New Relic, with an average price target of $60.67.
The analysts price targets range from a high of $75 to a low of $42.

In its latest earnings report, released on 12/31/2019, the company reported a quarterly revenue of $153.03 million and a net profit of -$24.22 million. The company's market cap is $3.35 billion.

According to TipRanks.com, Rosenblatt Securities analyst Yun Kim is a 5-star analyst with an average return of 13.2% and a 56.1% success rate.

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