New Relic (NEWR) Getting Somewhat Positive News Coverage, Study Finds

News coverage about New Relic (NYSE:NEWR) has been trending somewhat positive on Monday, Accern Sentiment Analysis reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. New Relic earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned media stories about the software maker an impact score of 45.3273038452207 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Here are some of the media stories that may have effected Accern Sentiment’s rankings:

Shares of New Relic opened at $94.63 on Monday, Marketbeat.com reports. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -127.88 and a beta of 0.65. New Relic has a 1 year low of $39.11 and a 1 year high of $95.58.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, May 8th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business had revenue of $98.40 million during the quarter, compared to analyst estimates of $96.34 million. New Relic had a negative return on equity of 20.14% and a negative net margin of 12.76%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. sell-side analysts expect that New Relic will post -0.59 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Cowen boosted their price target on New Relic from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 9th. JMP Securities lowered New Relic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 9th. Morgan Stanley boosted their price target on New Relic from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 9th. BMO Capital Markets upgraded New Relic from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $83.00 to $95.00 in a research report on Wednesday, May 9th. Finally, Wedbush reiterated an “outperform” rating and set a $86.00 price target (down previously from $93.00) on shares of New Relic in a research report on Wednesday, May 9th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. New Relic has a consensus rating of “Buy” and a consensus target price of $73.79.

In other news, insider James R. Gochee sold 333 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $75.90, for a total value of $25,274.70. Following the completion of the sale, the insider now owns 329,275 shares in the company, valued at $24,991,972.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Sachleben sold 763 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $75.90, for a total value of $57,911.70. Following the completion of the sale, the chief financial officer now owns 2,203 shares of the company’s stock, valued at approximately $167,207.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 364,389 shares of company stock valued at $27,334,401. Insiders own 23.10% of the company’s stock.

About New Relic

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

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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