Media coverage about New Relic (NYSE:NEWR) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. New Relic earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 46.5416393813109 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media stories that may have impacted Accern Sentiment’s scoring:
- New Relic Inc (NEWR) CFO Mark Sachleben Sells 7,500 Shares (americanbankingnews.com)
- New Relic (NEWR) Earns Overweight Rating from KeyCorp (americanbankingnews.com)
- Edited Transcript of NEWR earnings conference call or presentation 6-Feb-18 10:00pm GMT (finance.yahoo.com)
- Digital precision is essential for every business, even p… (finance.yahoo.com)
- Insider Selling: New Relic Inc (NEWR) Insider Sells 333 Shares of Stock (americanbankingnews.com)
NEWR stock opened at $77.47 on Wednesday. The company has a market cap of $4,153.11, a PE ratio of -78.25 and a beta of 0.67. New Relic has a 1-year low of $34.61 and a 1-year high of $77.82.
Several equities research analysts recently issued reports on the company. KeyCorp lifted their price objective on New Relic from $70.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Wedbush assumed coverage on New Relic in a research note on Friday, February 23rd. They issued an “outperform” rating and a $86.00 target price for the company. Oppenheimer boosted their price target on New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. downgraded New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.79.
In related news, CFO Mark Sachleben sold 5,000 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $59.35, for a total transaction of $296,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $72.94, for a total transaction of $6,491,660.00. The disclosure for this sale can be found here. Insiders have sold 315,422 shares of company stock valued at $21,118,823 over the last quarter. Insiders own 23.10% of the company’s stock.
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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