New Relic (NEWR) Receiving Somewhat Favorable Press Coverage, Report Finds

Headlines about New Relic (NYSE:NEWR) have been trending somewhat positive on Saturday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. New Relic earned a news impact score of 0.05 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 43.4877276630824 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Several analysts have weighed in on the company. JMP Securities lifted their target price on New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. KeyCorp assumed coverage on New Relic in a research note on Tuesday, September 19th. They issued an “overweight” rating and a $52.00 price objective on the stock. BidaskClub downgraded New Relic from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Robert W. Baird set a $55.00 price objective on New Relic and gave the stock a “buy” rating in a research note on Monday, September 11th. Finally, Oppenheimer reissued a “buy” rating and issued a $50.00 price objective on shares of New Relic in a research note on Tuesday, September 19th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $54.23.

Shares of New Relic (NYSE:NEWR) opened at $59.31 on Friday. New Relic has a 12 month low of $30.00 and a 12 month high of $60.85. The company has a market capitalization of $3,270.00, a price-to-earnings ratio of -53.43 and a beta of 1.03.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The company had revenue of $84.68 million for the quarter, compared to the consensus estimate of $82.98 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) EPS. sell-side analysts anticipate that New Relic will post -0.98 earnings per share for the current year.

In other news, CFO Mark Sachleben sold 10,000 shares of New Relic stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $50.78, for a total transaction of $507,800.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Robin Schulman sold 1,797 shares of New Relic stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.44, for a total value of $97,828.68. Following the transaction, the vice president now owns 1,107 shares in the company, valued at approximately $60,265.08. The disclosure for this sale can be found here. Insiders have sold 153,139 shares of company stock worth $8,381,945 over the last ninety days. 23.10% of the stock is owned by insiders.

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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.

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

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