Shares of New Relic Inc (NYSE:NEWR) have been assigned a consensus recommendation of “Buy” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $116.50.

Several research firms recently commented on NEWR. BMO Capital Markets restated an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of New Relic in a report on Thursday, February 7th. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and set a $124.00 price objective (up previously from $116.00) on shares of New Relic in a research note on Thursday, February 7th. ValuEngine upgraded shares of New Relic from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Finally, DA Davidson reiterated a “buy” rating on shares of New Relic in a research note on Thursday, February 7th.

Shares of NEWR traded down $1.02 during mid-day trading on Tuesday, hitting $96.09. The company had a trading volume of 496,609 shares, compared to its average volume of 771,376. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.53 and a current ratio of 3.53. New Relic has a 1-year low of $68.89 and a 1-year high of $114.78. The stock has a market capitalization of $5.51 billion, a PE ratio of -129.85 and a beta of 1.02.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Wednesday, February 6th. The software maker reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. New Relic had a negative net margin of 6.96% and a negative return on equity of 6.08%. The firm had revenue of $124.00 million for the quarter, compared to analyst estimates of $120.18 million. During the same quarter last year, the firm posted $0.05 earnings per share. New Relic’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, sell-side analysts expect that New Relic will post -0.3 earnings per share for the current fiscal year.

In other news, CFO Mark Sachleben sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $94.53, for a total transaction of $189,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lewis Cirne sold 20,300 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $102.92, for a total transaction of $2,089,276.00. The disclosure for this sale can be found here. Insiders have sold 116,341 shares of company stock valued at $12,000,604 in the last three months. Corporate insiders own 20.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Congress Park Capital LLC acquired a new stake in shares of New Relic during the first quarter worth approximately $227,000. Wedbush Securities Inc. acquired a new position in New Relic in the first quarter worth $248,000. Toth Financial Advisory Corp acquired a new position in New Relic in the first quarter worth $300,000. Sciencast Management LP boosted its holdings in New Relic by 40.5% in the first quarter. Sciencast Management LP now owns 5,900 shares of the software maker’s stock worth $571,000 after purchasing an additional 1,700 shares during the period. Finally, Virtu Financial LLC acquired a new position in New Relic in the first quarter worth $1,247,000. 81.28% of the stock is owned by institutional investors and hedge funds.

About New Relic

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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Analyst Recommendations for New Relic (NYSE:NEWR)

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