New Relic reported another beat and raise quarter, with revenue, billings, and EPS all coming in above consensus estimates.
Management raised FY19 revenue guidance higher than the Q3 revenue beat, implying continued momentum and confidence in the underlying business.
Although valuation remains at a premium level compared to peers, New Relic is one of the few names posting 35%+ revenue growth, 85%+ margins, and expanding FCF margins.
New Relic (NYSE:NEWR) remains one of the leaders in the APM (application performance management) industry, essentially developing tools that measure an application or software. Their software functions are in back-end processes, and the