New Relic is a SaaS company that claims to be building a new software category called "Software Analytics." To me, it's another big data company since the company describes its software as enabling "organizations to collect, store and analyze massive amounts of software data in real time." To be honest, if I buy the stock it's only because I think they will be bought out since they are expected to go public with around a $1B valuation. On the flip-side, one could have used the same thesis with DATA and they have not been acquired yet (price action has worked out though!).
I'm hoping this company flies under the radar enough to make it worth purchasing on IPO day, but I'm not so sure it's going to happen now that the IPO range has been raised from $18-20 to $20-22 (and could be raised again). I guess I'm not really that surprised though considering every IPO mentioning SaaS or cybersecurity has been underpriced and then raised since the Facebook IPO debacle a few years back.
Haven't decided if I will pull the trigger yet, but I will definitely be watching NEWR on 12/12!
I'm hoping this company flies under the radar enough to make it worth purchasing on IPO day, but I'm not so sure it's going to happen now that the IPO range has been raised from $18-20 to $20-22 (and could be raised again). I guess I'm not really that surprised though considering every IPO mentioning SaaS or cybersecurity has been underpriced and then raised since the Facebook IPO debacle a few years back.
Haven't decided if I will pull the trigger yet, but I will definitely be watching NEWR on 12/12!