CFRA Downgrades New Relic (NEWR) to Hold
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Price: $86.99 --0%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 28
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 28
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CFRA downgraded New Relic (NYSE: NEWR) from Strong Buy to Hold with a price target of $96.00 (from $168.00).
The analyst commented, "... our view of NEWR "emerging out of the 'trough' of a business model transformation" was clearly premature, with an FY 3Q21 EPS miss and puzzlingly pessimistic EPS guidance."
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 $109.18 yesterday.
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