Are Analysts Bearish New Relic, Inc. (NYSE:NEWR) After Last Week?

Erica Ruliffson Schultz promoted as New Relic's Chief Revenue Officer

Erica Ruliffson Schultz promoted as New Relic's Chief Revenue Officer

On Monday, March 19 the firm has "Overweight" rating by KeyBanc Capital Markets given.

Other research analysts have also issued research reports about the company. Cowen and Company restated an "outperform" rating and issued a $44.00 price target (up from $38.00) on shares of New Relic in a report on Wednesday, February 8th. "Buy" rating has 9, "Sell" are 0, while 4 are "Hold".

In other New Relic news, insider James R. Gochee sold 4,000 shares of New Relic stock in a transaction on Wednesday, January 17th. The stock outperformed the S&P500 by 92.50%. Stephens increased their price objective on New Relic from $60.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. The rating was upgraded by DA Davidson on Wednesday, August 12 to "Buy". Rhumbline Advisers owned about 0.05% of New Relic worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC). The company had a trading volume of 924,295 shares, compared to its average volume of 414,122. GSA Capital Partners LLP acquired a new stake in shares of New Relic during the fourth quarter worth about $212,000. The firm has a market capitalization of $4,156.99, a PE ratio of -66.48 and a beta of 0.64. After $-0.13 earnings per share was published last quarter, analysts now see negative EPS growth of 15.38 % for New Relic, Inc. This year's earnings per share analyst estimate is awaited to be $-0.15. The business had revenue of $91.83 million for the quarter, compared to analyst estimates of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%.

"Over the past several years, Erica and Roger have been instrumental in driving New Relic's growth and helping us become a trusted partner to numerous world's most important companies". On Wednesday, November 8 Morgan Stanley maintained New Relic, Inc. New Relic has a consensus rating of "Buy" and a consensus target price of $43.43. Also, VP Robin Schulman sold 2,318 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.31, for a total value of $233,240.00. Following the sale, the insider now owns 329,275 shares of the company's stock, valued at $24,991,972.50. The disclosure for this sale can be found here. Bebo Allison P had sold 7,000 shares worth $271,250.

Several hedge funds have recently bought and sold shares of NEWR. Finally, Sei Investments Co. raised its stake in shares of New Relic by 116.0% in the third quarter. BNP Paribas Arbitrage SA lifted its position in New Relic by 518.3% during the 3rd quarter. Amalgamated Bank bought a new stake in shares of New Relic in the 4th quarter worth $240,000. New Relic Inc had 19 analyst reports since October 23, 2017 according to SRatingsIntel. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of global copyright legislation.

New Relic, Inc., a software-as-a-service company, provides digital intelligence products worldwide.The firm is valued at $4.09 billion. The company??s cloud platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze it has negative earnings. 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.

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