New Relic (NEWR) Stock Rating Lowered by Zacks Investment Research

Erica Ruliffson Schultz promoted as New Relic's Chief Revenue Officer

Erica Ruliffson Schultz promoted as New Relic's Chief Revenue Officer

New Relic (NYSE:NEWR) had its price target upped by KeyCorp from $70.00 to $86.00 in a report released on Monday, March 19th.

Institutional investors have recently bought and sold shares of the business.

New Relic, Inc., a software-as-a-service company, provides digital intelligence products worldwide.

"Over the past several years, Erica and Roger have been instrumental in driving New Relic's growth and helping us become a trusted partner to numerous world's most important companies". Finally, Sei Investments Co. raised its stake in shares of New Relic by 116.0% in the third quarter. Geode Capital Management LLC now owns 349,177 shares of the software maker's stock worth $20,171,000 after buying an additional 9,930 shares in the last quarter. MA acquired a new position in New Relic in the third quarter valued at approximately $269,000. By increasing end-user adoption and standardization on the New Relic Platform, enterprises including 21st Century Fox, American Eagle Outfitters,, BJ's Wholesale Club, Inc., Citrix, Cox Enterprises, Domino's Pizza Enterprises Ltd, IBM, John Lewis Plc, McCormick & Company, News Corp, Ocado, and U.S. Auto Parts Network, Inc., West Corp. are able to get more value from their investment with New Relic by helping them accelerate their cloud adoption and DevOps transformation initiatives. The stock was sold at an average price of $75.90, for a total value of $25,274.70. Following the completion of the transaction, the insider now owns 333,476 shares of the company's stock, valued at approximately $19,444,985.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robin Schulman sold 2,318 shares of New Relic stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.31, for a total transaction of $233,240.00. Insiders own 23.10% of the company's stock. The disclosure for this sale can be found here. During the same period in the prior year, the company posted ($0.09) EPS. sell-side analysts forecast that New Relic will post -0.77 EPS for the current fiscal year.

Several brokerages have commented on NEWR. On Thursday, January 4 the rating was maintained by Robert W. Baird with "Buy". The stock rating was maintained by Cowen & Co with "Buy" on Wednesday, February 7. GSA Capital Partners LLP acquired a new stake in shares of New Relic during the fourth quarter worth about $212,000. (NYSE:NEWR) with "Buy" rating. In Friday, March 16 report Robert W. Baird maintained the stock with "Buy" rating. The analysts noted that the move was a valuation call. The stock rating was maintained by BMO Capital Markets with "Hold" on Wednesday, February 7. On Monday, October 23 the stock has "Buy" rating by Needham. The stock decreased 0.04% or $0.03 during the last trading session, reaching $74.95. The stock had a trading volume of 924,295 shares, compared to its average volume of 414,122. The firm has a market cap of $4,156.99, a P/E ratio of -66.48 and a beta of 0.64. New Relic has a 52-week low of $38.19 and a 52-week high of $79.08.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, February 6th. This year's earnings per share analyst estimate is anticipated to be $-0.15. New Relic had a negative net margin of 26.90% and a negative return on equity of 32.99%. The firm had revenue of $91.83 million during the quarter, compared to analyst estimates of $89.31 million. If you are accessing this story on another publication, it was stolen and republished in violation of United States and global trademark & copyright laws. On Wednesday, November 8 JMP Securities maintained New Relic, Inc.