New Relic (NEWR) Getting Somewhat Positive News Coverage, Study Shows
News stories about New Relic (NYSE:NEWR) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. New Relic earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave news stories about the software maker an impact score of 43.9787739058897 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
- Reviewing New Relic (NEWR) & Digimarc (DMRC) (americanbankingnews.com)
- New Relic, Inc. (NEWR) Insider Sells $227,400.00 in Stock (americanbankingnews.com)
- Rosetta Stone (RST) & New Relic (NEWR) Head-To-Head Contrast (americanbankingnews.com)
- Mark Sachleben Sells 10,000 Shares of New Relic, Inc. (NEWR) Stock (americanbankingnews.com)
New Relic (NEWR) traded up $0.88 during midday trading on Friday, hitting $59.68. The stock had a trading volume of 3,190,186 shares, compared to its average volume of 497,058. New Relic has a 52-week low of $27.85 and a 52-week high of $60.85.
New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $84.68 million during 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 period in the prior year, the company earned ($0.09) EPS. sell-side analysts predict that New Relic will post -0.98 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. J P Morgan Chase & Co lowered shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a report on Tuesday. KeyCorp assumed coverage on shares of New Relic in a report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 price objective for the company. BidaskClub downgraded New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. UBS assumed coverage on New Relic in a research report on Thursday, November 9th. They set a “neutral” rating and a $53.00 target price for the company. Finally, Robert W. Baird set a $55.00 target price on New Relic and gave the company a “buy” rating in a research report on Monday, September 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. New Relic presently has a consensus rating of “Buy” and a consensus price target of $54.23.
In related news, CFO Mark Sachleben sold 10,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $59.07, for a total value of $590,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $50.25, for a total value of $201,000.00. Following the completion of the sale, the insider now owns 343,382 shares of the company’s stock, valued at $17,254,945.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,591 shares of company stock valued at $9,860,912. 23.10% of the stock is owned by corporate insiders.
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.
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