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Mark Holder

New Relic: Cheap AppDynamics Play

New Relic (NEWR) is up 13% as Cisco Systems (CSCO) paid a pretty penny for competitor AppDynamics (APPD). With AppDynamics  on the verge of an IPO, the IPO specialists at Renaissance Capital worked up the following comparison of the two companies. 

While New Relic was a successful IPO, the stock is only worth roughly $2.0 billion now while Cisco paid $3.7 billion for AppDynamics. At first review, New Relic is a relative bargain. The stock though hit tough resistance at $40. 

Anybody playing the relative bargain here?

Disclosure: No position 

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