Needham analyst Jack Andrews reiterated a Buy rating on New Relic (NYSE:NEWR) on Tuesday, setting a price target of $84, which is approximately 10.70% above the present share price of $75.88.
Andrews expects New Relic to post earnings per share (EPS) of -$1.24 for the third quarter of 2021.
The current consensus among 5 TipRanks analysts is for a Moderate Buy rating of shares in New Relic, with an average price target of $81.2.
The analysts price targets range from a high of $95 to a low of $72.
In its latest earnings report, released on 06/30/2021, the company reported a quarterly revenue of $180.48 million and a net profit of -$73.89 million. The company's market cap is $4.92 billion.
According to TipRanks.com, Needham analyst Jack Andrews is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 25.2% and a 65.41% 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.