Shares of New Relic Inc (NYSE:NEWR) have been assigned an average rating of “Buy” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $60.33.
A number of equities research analysts recently weighed in on the company. Needham & Company LLC boosted their price objective on New Relic from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Oppenheimer boosted their price objective on New Relic from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Robert W. Baird boosted their price objective on New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Stephens boosted their price objective on New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets boosted their price objective on New Relic from $68.00 to $71.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th.
In other New Relic news, VP Robin Schulman sold 1,144 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $55.13, for a total value of $63,068.72. Following the sale, the vice president now owns 577 shares in the company, valued at approximately $31,810.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James R. Gochee sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $265,200.00. The disclosure for this sale can be found here. Insiders sold a total of 254,878 shares of company stock worth $15,613,120 in the last quarter. Corporate insiders own 23.10% of the company’s stock.
New Relic (NYSE:NEWR) traded down $1.06 during trading on Wednesday, hitting $68.34. The stock had a trading volume of 735,845 shares, compared to its average volume of 508,602. New Relic has a 12 month low of $33.10 and a 12 month high of $70.92. The firm has a market cap of $3,710.00, a PE ratio of -69.03 and a beta of 0.98.
New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $91.83 million during the quarter, compared to analysts’ expectations of $89.31 million. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. New Relic’s revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) EPS. equities analysts anticipate that New Relic will post -0.81 EPS for the current year.
About New Relic
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.
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