I’d be curious to hear if Bear sees things differently as he’s a little more adept with the numbers than I am and clearly knows New Relic better than just about anyone.
Umm…I don’t know about that, Stock"novice." I was about to write up my thoughts, but I saw your post, and you literally nailed every point I was about to make.
-
I’m not impressed with “New Relic One.” Honestly it sounded like “we’re going to give this a cool name and roll it out as a new thing, but really it’s just our base product + several options that most people want anyway.” Maybe that’s not entirely right, but something like that.
-
I’m not happy with the expenses creeping up, as you mentioned. I thought the slowish growth would be fine here since they showed signs of increasing profitability. Now it looks more like they’re trying to buy growth.
-
I was hoping to see a slight tick up in growth rate, actually – especially with their recent acquisition. But we just saw signs of a continued gradual slow down in growth.
Nothing too crazy here. But nothing that makes me think they can grow fast enough or profitably enough to be a great investment. So I sold at $102 yesterday, after hours. It was a large position for me. I need to find something to do with the money.
Bear