DA Davidson Downgrades New Relic to Neutral, Lowers Price Target to $87
Portfolio Pulse from Benzinga Newsdesk
DA Davidson analyst Gil Luria has downgraded New Relic (NEWR) from Buy to Neutral and lowered the price target from $95 to $87.
September 15, 2023 | 8:18 am
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NEGATIVE IMPACT
New Relic's stock has been downgraded from Buy to Neutral by DA Davidson, with a lowered price target from $95 to $87.
The downgrade from Buy to Neutral by DA Davidson indicates a less optimistic outlook for New Relic's stock. The lowering of the price target from $95 to $87 also suggests that the analyst believes the stock may not perform as well as previously expected. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100