Economy

Cowen and Company Reaffirms "Outperform" Rating for New Relic, Inc. (NEWR)

UBS AG lifted their price objective on New Relic from $42.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, August 4th. Guggenheim initiated the shares of NEWR in report on Tuesday, December 15 with "Buy" rating. The firm has "Buy" rating given on Thursday, August 10 by Oppenheimer. The lowest EPS estimate is ($0.10) and the highest is ($0.09).

05/10/2017 - New Relic, Inc. had its "outperform" rating reiterated by analysts at Oppenheimer. The business is scheduled to report its next quarterly earnings report on Monday, November 6th.

As of the last earnings report the EPS was $-1.12 and is expected to be $-0.25 for the current year with 54,516,000 shares presently outstanding. During the same period in the previous year, the business earned ($0.17) earnings per share. Zacks' EPS calculations are a mean average based on a survey of sell-side analysts that follow New Relic. New Relic Inc (NYSE:NEWR) has risen 65.48% since September 11, 2016 and is uptrending.

Now, the FactSet Research estimate calls for Q2 2017 earnings of US$-0.1. New Relic had a negative return on equity of 34.47% and a negative net margin of 31.38%. The firm had revenue of $80.10 million for the quarter, compared to analysts' expectations of $78.09 million. The count of Hold ratings in that period was 0. New Relic's revenue for the quarter was up 36.7% compared to the same quarter past year.

A number of brokerages have recently commented on NEWR. The stock of New Relic Inc (NYSE:NEWR) has "Overweight" rating given on Monday, September 21 by Pacific Crest. If the $53.05 PT is reached, the company will be worth $189.00M more.

New Relic, Inc. (NEWR) closed 26.37% above its 200-day moving average and is 6.25% above another chart threshold, its 50-day moving average.

The stock of New Relic Inc (NYSE:NEWR) hit a new 52-week high and has $53.45 target or 8.00 % above today's $49.49 share price.

Morgan Stanley raised the price target and downgraded the stock on July 20 boosting the price target from $45.00 to $48.00 and setting the rating at "Equal-Weight" which had previously been "Overweight".

Based on the latest brokerage notes which have been released to investors, 4 brokers have issued a rating of "strong buy", 4 brokers "buy", 4 brokers "neutral", 0 brokers "sell" and 0 brokers "strong sell". DA Davidson has "Buy" rating and $43 target.

08/07/2015 - New Relic, Inc. had its "positive" rating reiterated by analysts at Susquehanna. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and global trademark & copyright legislation. Morgan Stanley set a $43.00 price target on New Relic and gave the stock a "buy" rating in a research report on Wednesday, September 28th. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lewis Cirne sold 33,000 shares of the business's stock in a transaction on Thursday, September 7th. CFO Mark Sachleben sold 5,000 shares at an average price of $48.08 on Thursday the 7th. The disclosure for this sale can be found here. Insiders own 23.10% of the company's stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in New Relic by 1.4% in the second quarter. LLC now owns 133,254 shares of the company's stock valued at $3,915,000 after buying an additional 44,918 shares during the last quarter. Vanguard Group Inc. increased its holdings in New Relic by 7.7% in the second quarter. The shares were sold at an average price of $48.14, for a total value of $240,700.00. Champlain Investment Partners LLC now owns 1,682,895 shares of the software maker's stock valued at $62,385,000 after purchasing an additional 295,085 shares during the last quarter. Botty Investors LLC now owns 2,809 shares of the software maker's stock worth $121,000 after acquiring an additional 535 shares during the last quarter. The value in dollars went from $4,161,000 to $4,839,000 a change of 16.3% since the last quarter. About 72,275 shares traded. Trading was heavy with 544K shares changing hands on Tuesday. The company's market cap is $1.98 billion. The 50 day moving average went up by +6.41% whereas the 200 day moving average was up $7.56 or +17.81%. New Relic has a 12 month low of $27.85 and a 12 month high of $50.00.

New Relic, Inc. (New Relic), launched on October 5, 2007, is a provider of enterprise software.



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