As New Relic Announces Profits, Big Data Software Companies Reach New Highs


New Relic (NEW) hit a new high on Monday, its sixth consecutive trading day setting a new record, as the data analytics firm prepares to release its quarterly results. New Relic stock jumped 3.5% on Monday to 90.25, as others in the industry erupt.

New Relic shares erupted from a double bottom base on November 1 with a buy point of 81.96. The point of purchase extends until 86.05. Exceeding this level puts the New Relic stock in extended mode, which makes buying riskier.

For New Relic’s fiscal second quarter results after the close Monday, analysts expect an adjusted loss of 13 cents per share on revenue of $ 182.2 million.

New Relic provides data analysis, big data and cloud monitoring software. Businesses use its cloud-based platform to visualize, analyze, and troubleshoot their software.

The massive volumes of information generated and used for decision-making in business today fuel the booming activity of data analytics and big data companies. Big Data describes the huge volumes of data that flood a business on a daily basis, coming from an ever-increasing variety of sources.

In addition, it typically describes datasets that are larger in size than the ability of traditional data processing software tools to capture, process, and retain in a timely manner.

New stock of relics among several

The New Relic stock is one of many in its industry to explode.

Datadog (DDOG), for example, jumped 11% on Friday after its September Quarter Results and revenues easily exceed estimates. The advice also exceeded expectations. Shares climbed 3.9% on Monday to 192.65, during the afternoon trading on the scholarship today.

Datadog operates a monitoring and analysis platform for software developers and IT departments.

Other members of the sector include MongoDB (BMD), which hit a new high for the third day in a row. The company provides an open source database platform for businesses.

Workiva (WK) erupted on November 4. Its software collects, analyzes and manages business data.

Please follow Brian Deagon on Twitter at @IBD_BDeagon to learn more about tech stocks, analysis and financial markets.


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