New Relic: AIOps And Edge Will Drive Client-Base Expansion [Seeking Alpha]
New Relic, Inc. (NEWR)
Last new relic, inc. earnings: 2/4 04:05 pm
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US:NYSE Investor Relations:
ir.newrelic.com/investors-home/default.aspx
Company Research
Source: Seeking Alpha
SummaryWe see growth opportunities through client-base expansion, driven by the adoption of New Relic Edge and AI in FY 2021 and beyond.New Relic also onboarded four new executives, demonstrating a full commitment to fixing the sales execution issue in Q1 2020.As we see potential growth and margin expansion opportunity in the medium term, we are upgrading our neutral rating to overweight.OverviewIn our recent note on New Relic (NEWRhighlighted the potential investment riskIn Q4, New Relic beat the guidance as it grew revenue by 21% YoY and announced new executive hires to strengthen its leadership team. The company also introduced two new offerings, which demonstrates its commitment to continue investing in its platform despite the ongoing macro uncertainties that have reduced the visibility for the full year. The stock has only been up ~7.5% from last September when we published our first coverage. As such, the price level provides a good entry point and we are upgrading the stock to
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