Somewhat Favorable Media Coverage Somewhat Unlikely to Affect New Relic (NYSE:NEWR) Share Price

Media coverage about New Relic (NYSE:NEWR) has trended somewhat positive recently, Accern reports. Accern identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. New Relic earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 46.6250353457962 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

These are some of the media stories that may have effected Accern’s rankings:

NEWR has been the topic of a number of analyst reports. Robert W. Baird increased their target price on shares of New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Stephens increased their target price on shares of New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Wedbush initiated coverage on shares of New Relic in a research report on Friday, February 23rd. They set an “outperform” rating and a $86.00 target price on the stock. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Finally, KeyCorp increased their target price on shares of New Relic from $70.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $65.79.

Shares of New Relic stock traded down $0.46 during trading on Thursday, hitting $78.06. 212,343 shares of the stock were exchanged, compared to its average volume of 496,745. New Relic has a 12 month low of $34.90 and a 12 month high of $79.08. The company has a market cap of $4,295.04, a P/E ratio of -79.31 and a beta of 0.67.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. The company had revenue of $91.83 million during the quarter, compared to the consensus estimate of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The firm’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) EPS. equities research analysts forecast that New Relic will post -0.77 EPS for the current year.

In related news, CEO Lewis Cirne sold 25,000 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $58.83, for a total value of $1,470,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Sachleben sold 5,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $57.86, for a total transaction of $289,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 315,422 shares of company stock valued at $21,118,823. 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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