New Relic (NEWR) Earning Somewhat Favorable Media Coverage, Analysis Finds

Media headlines about New Relic (NYSE:NEWR) have trended somewhat positive recently, Accern reports. The research firm identifies negative and positive media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. New Relic earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the software maker an impact score of 44.7372868614351 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

These are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:

A number of equities analysts recently weighed in on the stock. J P Morgan Chase & Co cut shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research report on Tuesday. JMP Securities increased their price objective on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 8th. KeyCorp assumed coverage on shares of New Relic in a research report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 price objective for the company. BidaskClub cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Robert W. Baird set a $55.00 price objective on shares of New Relic and gave the stock a “buy” rating in a research report on Monday, September 11th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $54.23.

Shares of New Relic (NYSE NEWR) traded down $3.27 during mid-day trading on Tuesday, reaching $56.73. 863,372 shares of the company’s stock traded hands, compared to its average volume of 466,511. New Relic has a 52 week low of $27.85 and a 52 week high of $60.85.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The company had revenue of $84.68 million during the quarter, compared to analysts’ expectations of $82.98 million. During the same quarter last year, the company posted ($0.09) EPS. The firm’s revenue was up 33.5% compared to the same quarter last year. equities research analysts forecast that New Relic will post -0.98 earnings per share for the current fiscal year.

In other New Relic news, CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $47.69, for a total value of $238,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $49.70, for a total transaction of $198,800.00. Following the completion of the transaction, the insider now directly owns 346,980 shares of the company’s stock, valued at approximately $17,244,906. The disclosure for this sale can be found here. Insiders sold a total of 195,591 shares of company stock valued at $10,329,312 in the last three months. 23.10% of the stock is currently owned by corporate insiders.

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New Relic Company Profile

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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