Important volume stepped in around $56/60, and the stock has since then initiated a rebound after an ugly downmove following a downward sales guidance last august on growing competition and bad sales execution. The stock accelerated above $70 critical level, and could fill the huge gap at around $80. Stop below $69
Earnings are on 4th, yet the downside could be limited as most analysts already downgraded estimates. UBS recently upgraded to buy with $98, as they expect the stock to re-rate 30%, at levels where peers are trading.
New Relic one of the leading APM (application performance monitoring) provider, which monitors IT applications used to optimize performance and quickly find and fix performance problems as well as prevent future issues. They have large clients such as Airbnb or Bloomberg.
Earnings are on 4th, yet the downside could be limited as most analysts already downgraded estimates. UBS recently upgraded to buy with $98, as they expect the stock to re-rate 30%, at levels where peers are trading.
New Relic one of the leading APM (application performance monitoring) provider, which monitors IT applications used to optimize performance and quickly find and fix performance problems as well as prevent future issues. They have large clients such as Airbnb or Bloomberg.