New Relic (NEWR) Reports In-Line Q4 EPS, Offers Q1 & FY17 Guidance

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New Relic (NEWR) Becoming an Enterprise Story PT to $32 - UBS

May 11, 2016 9:31 AM EDT

UBS analyst, Brent Thill, raised his PT on New Relic (NYSE: NEWR) from $28 to $32. 4Q16 was the first quarter in which MRR from enterprise customers came in ahead of the SMB segment, w/ FY16 enterprise MRR +90% y/y and now >1,500 enterprise customers (of >13.5K paid business accounts). Management provided some additional deal metrics: >350 customers are paying NEWR >$100K/yr (vs. 200 last year) inc. 15 customers >$1M/yr (vs. 4 last... More