New Relic CEO Talks 'Fortnite,' Importance Of Real-Time Data
Investors seeking exposure to the cloud sector have many options, but CNBC's Jim Cramer said software analytics company New Relic Inc (NYSE: NEWR) is a "cloud prince" that provides a vital service by tracking how customers interact with businesses in real time.
Epic Games relies on New Relic's platform to "see everything in real time," which is essential for the video game maker's team to run the game 24/7, he said. A common misconception among investors is that New Relic is in direct competition to win clients like Epic Games against much larger cloud players like Microsoft Corporation (NASDAQ: MSFT) and Amazon.com, Inc. (NASDAQ: AMZN), Cirne said.
"There are different companies that do different things in and around observing what is going on in the space" he said. "We are the application-centric company."
Why It's Important
New Relic is much more than just a provider of analytics that help a company maintain a consistent product, Cirne said.
The company offers the "visibility that gives [a company] confidence to move faster and scale," the executive said. The company also helps clients deliver business results to satisfy investors, he sai.
"If your site is slower on Cyber Monday — forget it, you are going to miss your quarter," he said. "You may never recover from that because you also have a brand hit."
New Relic will continue targeting any company anywhere in the world that has systems which "need to perform well and scale well," Cirne told Cramer.
"Those are the systems that need Relic."
Screenshot courtesy of Epic Games.
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