Media coverage about New Relic (NYSE:NEWR) has been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of media 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 positive one, with scores nearest to one being the most favorable. New Relic earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 46.2771266252148 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news headlines that may have effected Accern’s analysis:
- What’s Happening With These Business Software & Services Stocks? — Guidewire Software, Iron Mountain, New Relic, and SailPoint Technologies (prnewswire.com)
- New Relic Inc (NEWR) Insider James R. Gochee Sells 4,000 Shares (americanbankingnews.com)
- Robin Schulman Sells 8,401 Shares of New Relic Inc (NEWR) Stock (americanbankingnews.com)
- New Relic, Inc. (NEWR) – Momentum Stock in Focus – Wall Street Morning (wallstreetmorning.com)
- Instrumenting Early with New Relic Helps Accelerate Cloud Adoption for Enterprises – Business Wire (press release) (businesswire.com)
A number of research analysts recently issued reports on the stock. 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. Oppenheimer raised their target price on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research note 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. Stephens raised their target price on shares of New Relic from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets raised their target price on shares of New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.00.
New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company 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%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. equities research analysts forecast that New Relic will post -0.81 EPS for the current year.
In other New Relic news, VP Robin Schulman sold 1,144 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $55.13, for a total value of $63,068.72. Following the sale, the vice president now directly owns 577 shares in the company, valued at approximately $31,810.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Sachleben sold 1,645 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $55.13, for a total transaction of $90,688.85. The disclosure for this sale can be found here. Insiders sold a total of 254,878 shares of company stock worth $15,613,120 over the last 90 days. Company 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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