Somewhat Positive Media Coverage Somewhat Unlikely to Affect New Relic (NEWR) Share Price
News articles about New Relic (NYSE:NEWR) have trended somewhat positive recently, according to Accern. Accern scores the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. New Relic earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 46.5416393813109 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Check Point Software Technologies (CHKP) vs. New Relic (NEWR) Head to Head Review (americanbankingnews.com)
- New Relic Inc (NEWR) CFO Sells $748,000.00 in Stock (americanbankingnews.com)
- New Relic Inc (NEWR) Receives Average Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- New Relic (NEWR) Stock Rating Upgraded by Zacks Investment Research (americanbankingnews.com)
- $96.33 Million in Sales Expected for New Relic Inc (NEWR) This Quarter (americanbankingnews.com)
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Wedbush assumed coverage on New Relic in a research note on Friday, February 23rd. They issued an “outperform” rating and a $86.00 price target on the stock. Oppenheimer lifted their price target on New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Needham & Company LLC lifted their price target on New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Robert W. Baird lifted their price target on New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $63.71.
New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. The company had revenue of $91.83 million for the quarter, compared to the consensus estimate of $89.31 million. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. New Relic’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. analysts expect that New Relic will post -0.77 EPS for the current fiscal year.
In other New Relic news, CEO Lewis Cirne sold 89,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $72.94, for a total transaction of $6,491,660.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Sachleben sold 10,000 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $74.80, for a total value of $748,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,395 shares of company stock worth $20,860,516. 23.10% of the stock is owned by company insiders.
TRADEMARK VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2018/03/14/somewhat-positive-media-coverage-somewhat-unlikely-to-affect-new-relic-newr-share-price.html.
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.
Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.