New Relic (NYSE:NEWR) Receiving Somewhat Positive Media Coverage, Analysis Shows

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News stories about New Relic (NYSE:NEWR) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. New Relic earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned news stories about the software maker an impact score of 46.5416393813109 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:

Shares of NYSE NEWR traded up $0.50 during mid-day trading on Thursday, hitting $75.54. The company’s stock had a trading volume of 578,079 shares, compared to its average volume of 498,164. The firm has a market capitalization of $4,086.03, a PE ratio of -68.67 and a beta of 0.64. New Relic has a one year low of $37.31 and a one year high of $79.08.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $91.83 million for 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%. New Relic’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. equities research analysts expect that New Relic will post -0.77 EPS for the current year.

A number of equities research analysts have commented on NEWR shares. JPMorgan Chase lowered shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a report on Tuesday, December 12th. BMO Capital Markets started coverage on shares of New Relic in a report on Friday, January 12th. They set a “market perform” rating and a $68.00 price objective on the stock. Stephens increased their price objective on shares of New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Robert W. Baird raised their target price on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Needham & Company LLC raised their target price on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.57.

In related news, CEO Lewis Cirne sold 89,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $72.94, for a total value of $6,491,660.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James R. Gochee sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $58.31, for a total transaction of $233,240.00. Following the completion of the sale, the insider now owns 333,476 shares in the company, valued at $19,444,985.56. The disclosure for this sale can be found here. Insiders sold a total of 371,002 shares of company stock worth $25,317,143 over the last quarter. 23.10% of the stock is currently owned by corporate insiders.

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New Relic Company Profile

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

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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