Press coverage about New Relic (NYSE:NEWR) has trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, 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 gave media stories about the software maker an impact score of 46.0287238727015 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- New Relic, Inc. (NEWR) VP Robin Schulman Sells 1,109 Shares (americanbankingnews.com)
- New Relic Announces Date of Second Quarter Fiscal Year 2018 Financial Results Conference Call (finance.yahoo.com)
- New Relic, Inc. (NEWR) Upgraded to Buy by Zacks Investment Research (americanbankingnews.com)
- Financial Review: New Relic (NEWR) & Adobe Systems (ADBE) (americanbankingnews.com)
- Zacks Investment Research Downgrades New Relic, Inc. (NEWR) to Hold (americanbankingnews.com)
New Relic (NYSE:NEWR) opened at 50.67 on Wednesday. The company’s 50-day moving average price is $48.90 and its 200 day moving average price is $44.48. New Relic has a 52-week low of $27.85 and a 52-week high of $51.97. The stock’s market capitalization is $2.76 billion.
New Relic (NYSE:NEWR) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The business had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.09 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. New Relic’s revenue for the quarter was up 36.7% compared to the same quarter last year. On average, equities research analysts anticipate that New Relic will post ($0.25) earnings per share for the current year.
Several analysts have recently issued reports on NEWR shares. BidaskClub downgraded New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, October 4th. First Analysis downgraded New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research report on Friday, August 4th. UBS AG upped their price objective on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Finally, Morgan Stanley downgraded New Relic from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $45.00 to $48.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.17.
In other news, CFO Mark Sachleben sold 5,000 shares of New Relic stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $48.14, for a total transaction of $240,700.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lewis Cirne sold 33,000 shares of New Relic stock in a transaction on Monday, August 7th. The shares were sold at an average price of $46.12, for a total value of $1,521,960.00. The disclosure for this sale can be found here. Insiders have sold 172,002 shares of company stock worth $8,256,412 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.
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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