New Relic (NEWR) Getting Somewhat Positive News Coverage, Accern Reports

Media headlines about New Relic (NYSE:NEWR) have been trending somewhat positive recently, according to Accern Sentiment. Accern scores the sentiment of press coverage by analyzing 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 0.06 on Accern’s scale. Accern also gave news stories about the software maker an impact score of 43.481100161948 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

Shares of New Relic (NYSE:NEWR) traded up $0.75 during trading on Monday, hitting $57.77. 232,995 shares of the stock were exchanged, compared to its average volume of 472,491. New Relic has a 52-week low of $27.87 and a 52-week high of $60.85. The stock has a market capitalization of $3,180.96, a P/E ratio of -51.58 and a beta of 1.03.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The firm had revenue of $84.68 million for the quarter, compared to the consensus estimate of $82.98 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. analysts expect that New Relic will post -0.98 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. downgraded 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. UBS Group initiated coverage on shares of New Relic in a report on Thursday, November 9th. They set a “neutral” rating and a $53.00 price objective on the stock. JMP Securities increased their price target on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 8th. Morgan Stanley increased their price target on shares of New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Finally, KeyCorp reissued an “overweight” rating and issued a $57.00 price target (up from $52.00) on shares of New Relic in a report on Wednesday, November 8th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. New Relic currently has an average rating of “Buy” and an average price target of $54.23.

In related news, CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $50.40, for a total value of $252,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robin Schulman sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $51.33, for a total transaction of $56,924.97. The disclosure for this sale can be found here. Insiders sold 187,248 shares of company stock worth $10,067,880 over the last ninety days. 23.10% of the stock is currently 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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