Shares of New Relic Inc (NYSE:NEWR) have earned a consensus recommendation of “Buy” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $106.00.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of New Relic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. JPMorgan Chase & Co. upgraded shares of New Relic from a “neutral” rating to an “overweight” rating in a report on Thursday, December 13th. BMO Capital Markets dropped their price target on shares of New Relic from $117.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 7th. ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, First Analysis raised shares of New Relic from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $114.00 to $116.00 in a research report on Wednesday, November 7th.

NEWR traded down $0.08 on Friday, reaching $87.29. The company had a trading volume of 14,639 shares, compared to its average volume of 544,358. New Relic has a fifty-two week low of $56.01 and a fifty-two week high of $114.78. The firm has a market cap of $4.93 billion, a P/E ratio of -118.12 and a beta of 0.84. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.81 and a current ratio of 3.81.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $114.90 million for the quarter, compared to analyst estimates of $112.26 million. New Relic had a negative return on equity of 7.97% and a negative net margin of 6.93%. The business’s revenue was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. As a group, equities analysts forecast that New Relic will post -0.37 earnings per share for the current year.

In other news, insider James R. Gochee sold 4,000 shares of New Relic stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $89.99, for a total transaction of $359,960.00. Following the completion of the sale, the insider now directly owns 306,946 shares in the company, valued at $27,622,070.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Erica Schultz sold 2,661 shares of New Relic stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $70.30, for a total value of $187,068.30. Following the sale, the executive now owns 24,263 shares of the company’s stock, valued at $1,705,688.90. The disclosure for this sale can be found here. Insiders have sold 384,447 shares of company stock valued at $32,179,721 over the last ninety days. 20.40% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of New Relic by 95.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock valued at $121,000 after acquiring an additional 584 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of New Relic by 84.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock valued at $133,000 after acquiring an additional 593 shares in the last quarter. First Quadrant L P CA bought a new stake in shares of New Relic in the third quarter valued at about $139,000. Ancora Advisors LLC bought a new stake in shares of New Relic in the third quarter valued at about $151,000. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of New Relic in the second quarter valued at about $231,000. Institutional investors and hedge funds own 76.57% of the company’s stock.

About New Relic

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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Analyst Recommendations for New Relic (NYSE:NEWR)

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