10/15/2023 0 Comments Download stellaris relics![]() Given the strength of New Relic’s recent results as well as its incredibly attractive valuation, I am upping my rating on New Relic to strong buy. I’d encourage investors not to read into this too much, however: in my view, New Relic has plenty of room to jump even on a standalone basis. The stock has already enjoyed a nearly ~30% jump year-to-date however, these gains have lost steam ever since acquisition rumors by TPG ended. New Relic ( NYSE: NEWR) is one of my favorite names in this regard. Yet the best strategy amid all this noise, in my view, is investing in “growth at a reasonable price” stocks that have room from a valuation front to rise amid a wide spate of macro scenarios. So far this year in the market, it seems to be “one step forward, two steps back.” Every resurgence of optimism around pausing interest rate hikes seems to be met with a number of bearish factors (the debt ceiling crisis, persistent inflation, bank turmoil).
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