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logoArgusAugust 14, 2020

New Relic, Inc.: Lowering rating to HOLD

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New Relic is an enterprise software technology firm focused on the emerging technology of big data software analytics. New Relic's Digital Intelligence Platform enables enterprise clients to 'collect, store and analyze' data generated by applications and IT infrastructure, and provides visibility into software and systems performance across desktop, mobile, browser, and cloud environments. The company uses a software-as-a-service (SaaS) delivery model. With a market cap of $3.4 billion, New Relic is considered a mid-cap company. New Relic was founded in September 2007 and completed its initial public offering on December 12, 2014 at $23 per share. New Relic derives about 32% of revenue from outside the U.S.

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Analyst Profile

Joseph F. Bonner, CFA

Senior Analyst: Communication Services & Technology
Joe covers the Communication Services sector and selected software technology stocks for Argus. In 2010, he was named #5 Stock Picker for Telecom Services in the Wall Street Journal's Best on the Street Analyst Survey. In 2008, Joe was named #1 Stock Picker for Media: U.S. by the Financial Times and was second in the Wall Street Journal's Best on the Street Analyst Survey for Telecommunications: Fixed Line. For more than a decade, Joe worked with Technicolor Inc., where he focused on financial and legal issues. He received his Masters in Business Administration from Fordham University in New York, where he concentrated in Finance. He earned a BA in International Affairs from the George Washington University, and spent three years with the Peace Corps in Talgar, Kazakhstan, developing an English Language resource center and teaching students. Joe is a CFA charterholder.