SunTrust Reiterates Buy Rating on New Relic (NEWR) Following 3Q Report

SunTrust analyst Joel Fishbein Jr. reiterated a Buy rating and $85.00 price target on New Relic (NYSE: NEWR) following the company's 3Q earnings report. The Company reported $153M of revenue for 3Q20, ahead of consensus at $149M and the high end of guidance at $150M. Non-GAAP EPS came in at $0.09 vs. estimates of $0.12.

The Company guided Q4 revenue of $154M - $156M, Non-GAAP Operating Loss of $2M - $0, and Non-GAAP EPS of $0.02 - $0.06 for the quarter.

For an analyst ratings summary and ratings history on New Relic click here. For more ratings news on New Relic click here.

Shares of New Relic closed at $62.12 yesterday.

You May Also Be Interested In

• Ares Management, L.P. (ARES) PT Raised to $153 at TD Cowen
• Deutsche Bank Starts Tandem Diabetes Care (TNDM) at Hold
• Bernstein SocGen Reiterates Outperform Rating on Fervo Energy (FRVO)