Why New Relic Fell 15% in February
Shares of performance-monitoring company New Relic (NYSE: NEWR) were down 14.8% in February, according to data provided by S&P Global Market Intelligence. The stock started falling from a lackluster earnings report on Feb. 5, and once Wall Street became volatile later in the month, there was nothing to keep New Relic's stock from falling even further.
If investors only focused on New Relic's revenue, perhaps the sell-off wouldn't have been so dramatic. In the third quarter of fiscal 2020, revenue of $153 million beat the company's own guidance of $148 million to $150 million -- good for 23% growth year over year. Furthermore, it raised its full-year guidance to $594 million to $596 million.
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Source Fool.com
