Barclays (LON:BARC) analyst Raimo Lenschow maintained a Sell rating on New Relic (NYSE:NEWR) on Friday, setting a price target of $52, which is approximately 5.59% below the present share price of $55.08.
Lenschow expects New Relic to post earnings per share (EPS) of -$0.50 for the fourth quarter of 2020.
The current consensus among 11 TipRanks analysts is for a Hold rating of shares in New Relic, with an average price target of $65.4.
The analysts price targets range from a high of $85 to a low of $52.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $162.59 million and a net profit of -$26.1 million. The company's market cap is $3.32 billion.
According to TipRanks.com, Barclays analyst Raimo Lenschow is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 24.5% and a 75.23% success rate.
New Relic, Inc. engages in the provision of cloud-based instrumentation and analytics platform that enables users to collect, store, and analyze massive amounts of data in real time. It offers New Relic APM, MOBILE, SYNTHETICS, INFRASTRUCTURE, and INSIGHTS. The company was founded by Lewis Cirne in September 2007 and is headquartered in San Francisco, CA.