News headlines about New Relic (NYSE:NEWR) have trended somewhat positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. New Relic earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave media stories about the software maker an impact score of 46.6250353457962 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media stories that may have effected Accern’s scoring:
- Check Point Software Technologies (CHKP) vs. New Relic (NEWR) Head to Head Review (americanbankingnews.com)
- New Relic Inc (NEWR) CFO Sells $748,000.00 in Stock (americanbankingnews.com)
- New Relic Inc (NEWR) Receives Average Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- New Relic (NEWR) Stock Rating Upgraded by Zacks Investment Research (americanbankingnews.com)
- $96.33 Million in Sales Expected for New Relic Inc (NEWR) This Quarter (americanbankingnews.com)
A number of brokerages have recently commented on NEWR. Zacks Investment Research cut shares of New Relic from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Robert W. Baird increased their target price on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. BMO Capital Markets increased their target price on shares of New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Needham & Company LLC increased their target price on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Oppenheimer increased their target price on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.71.
New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The firm had revenue of $91.83 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same period last year, the business earned ($0.09) earnings per share. New Relic’s revenue was up 34.8% compared to the same quarter last year. sell-side analysts anticipate that New Relic will post -0.77 EPS for the current year.
In other New Relic news, CEO Lewis Cirne sold 89,000 shares of New Relic stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $72.94, for a total transaction of $6,491,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robin Schulman sold 1,575 shares of New Relic stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $58.90, for a total transaction of $92,767.50. Following the sale, the vice president now owns 1,365 shares of the company’s stock, valued at $80,398.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,395 shares of company stock valued at $20,860,516. 23.10% of the stock is owned by company insiders.
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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