New Relic (NEWR) Earns News Sentiment Score of 0.08
News articles about New Relic (NYSE:NEWR) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than 20 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 closest to one being the most favorable. New Relic earned a news sentiment score of 0.08 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 43.7296724240874 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Insider Selling: New Relic, Inc. (NEWR) VP Sells 445 Shares of Stock (americanbankingnews.com)
- Analysts Expect New Relic, Inc. (NEWR) Will Post Quarterly Sales of $82.89 Million (americanbankingnews.com)
- ETFs with exposure to New Relic, Inc. : October 2, 2017 (finance.yahoo.com)
- -$0.10 Earnings Per Share Expected for New Relic, Inc. (NEWR) This Quarter (americanbankingnews.com)
- New Relic (NEWR) and Perion Network (PERI) Head-To-Head Contrast (americanbankingnews.com)
Shares of New Relic (NYSE:NEWR) opened at 50.30 on Thursday. The stock’s market cap is $2.74 billion. New Relic has a 52 week low of $27.85 and a 52 week high of $51.31. The stock has a 50 day moving average of $48.34 and a 200 day moving average of $43.98.
New Relic (NYSE:NEWR) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The business had revenue of $80.10 million for the quarter, compared to analyst estimates of $78.09 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. The company’s quarterly revenue was up 36.7% compared to the same quarter last year. On average, analysts expect that New Relic will post ($0.25) earnings per share for the current year.
A number of equities research analysts recently issued reports on NEWR shares. BidaskClub downgraded shares of New Relic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. First Analysis downgraded shares of New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Friday, August 4th. UBS AG increased their target price on shares of New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Morgan Stanley downgraded shares of New Relic from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $45.00 to $48.00 in a research note on Thursday, July 20th. They noted that the move was a valuation call. Finally, Robert W. Baird set a $55.00 target price on shares of New Relic and gave the company a “buy” rating in a research note on Monday, September 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $50.17.
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In related news, VP Robin Schulman sold 667 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.03, for a total value of $31,369.01. Following the sale, the vice president now directly owns 1,244 shares in the company, valued at approximately $58,505.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lewis Cirne sold 33,000 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $44.53, for a total transaction of $1,469,490.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,427 shares of company stock worth $9,107,953. 23.10% of the stock is owned by insiders.
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.
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