News articles about New Relic (NYSE:NEWR) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public 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 0.18 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 44.9976429999331 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news headlines that may have effected Accern Sentiment’s scoring:
- New Relic Ranked as One of the Fastest Growing Companies in North America on Deloitte’s 2017 Technology Fast 500™ (finance.yahoo.com)
- [$$] Hilarie Koplow-McAdams Joins NEA (finance.yahoo.com)
- Reviewing New Relic (NEWR) & ANSYS (ANSS) (americanbankingnews.com)
- New Relic, Inc. (NEWR) CFO Mark Sachleben Sells 5,000 Shares (americanbankingnews.com)
- Insider Selling: New Relic, Inc. (NEWR) CEO Sells 33,000 Shares of Stock (americanbankingnews.com)
A number of research analysts have recently weighed in on the company. JMP Securities increased their price target on New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. Morgan Stanley increased their price target on New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. UBS assumed coverage on New Relic in a research note on Thursday, November 9th. They issued a “neutral” rating and a $53.00 price target on the stock. Needham & Company LLC assumed coverage on New Relic in a research note on Monday, October 23rd. They issued a “buy” rating and a $69.00 price target on the stock. Finally, KeyCorp reissued an “overweight” rating and issued a $57.00 price target (up previously from $52.00) on shares of New Relic in a research note on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. New Relic has an average rating of “Buy” and a consensus price target of $53.58.
New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. The business had revenue of $84.68 million for the quarter, compared to the consensus estimate of $82.98 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The firm’s revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. analysts expect that New Relic will post -0.98 earnings per share for the current fiscal year.
In related news, CFO Mark Sachleben sold 836 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $48.31, for a total transaction of $40,387.16. Following the sale, the chief financial officer now owns 2,203 shares of the company’s stock, valued at approximately $106,426.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robin Schulman sold 1,349 shares of New Relic stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $48.78, for a total value of $65,804.22. Following the completion of the sale, the vice president now directly owns 1,364 shares in the company, valued at approximately $66,535.92. The disclosure for this sale can be found here. Insiders have sold a total of 185,591 shares of company stock worth $9,738,612 in the last ninety days. 23.10% of the stock is currently owned by company insiders.
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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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