Zacks Investment Research Lowers New Relic, Inc. (NEWR) to Hold

Zacks Investment Research lowered shares of New Relic, Inc. (NYSE:NEWR) from a buy rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “New Relic, Inc. is a software analytics company. The Company offers solution which includes application development, production monitoring, real-time analytics, mobile application management and digital transformation. Its products include new relic APM, new relic mobile, new relic insights, new relic services, new relic browser and new relic platform. New Relic, Inc. is based in San Francisco, United States. “

A number of other analysts also recently weighed in on NEWR. Morgan Stanley downgraded shares of New Relic from an overweight rating to an equal weight rating and increased their price target 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. BidaskClub downgraded shares of New Relic from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. First Analysis downgraded shares of New Relic from an overweight rating to an equal weight rating and set a $50.00 price target on the stock. in a research report on Friday, August 4th. UBS AG increased their price target on shares of New Relic from $42.00 to $47.00 and gave the company a neutral rating in a research report on Friday, August 4th. Finally, Robert W. Baird set a $55.00 price target on shares of New Relic and gave the company a buy rating in a research report on Monday, September 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $50.17.

New Relic (NYSE NEWR) traded up 1.48% during mid-day trading on Thursday, hitting $51.57. 291,285 shares of the company were exchanged. New Relic has a 12-month low of $27.85 and a 12-month high of $51.97. The company has a 50 day moving average of $48.63 and a 200 day moving average of $44.13. The stock’s market cap is $2.81 billion.

New Relic (NYSE:NEWR) last announced 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. The business had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.09 million. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.19%. New Relic’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. On average, equities research analysts expect that New Relic will post ($0.25) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers New Relic, Inc. (NEWR) to Hold” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://ledgergazette.com/2017/10/08/zacks-investment-research-lowers-new-relic-inc-newr-to-hold.html.

In other news, VP Robin Schulman sold 1,349 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $48.78, for a total transaction of $65,804.22. Following the completion of the transaction, the vice president now directly owns 1,364 shares of the company’s stock, valued at approximately $66,535.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $50.40, for a total transaction of $252,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,427 shares of company stock valued at $9,359,953. 23.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. grew its stake in shares of New Relic by 1.8% during the 2nd quarter. D.A. Davidson & CO. now owns 7,907 shares of the software maker’s stock worth $340,000 after acquiring an additional 142 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of New Relic by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 41,109 shares of the software maker’s stock worth $1,768,000 after acquiring an additional 313 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of New Relic by 4.8% during the 2nd quarter. Suntrust Banks Inc. now owns 9,582 shares of the software maker’s stock worth $411,000 after acquiring an additional 442 shares in the last quarter. Botty Investors LLC grew its stake in shares of New Relic by 23.5% during the 2nd quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after acquiring an additional 535 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of New Relic by 1.4% during the 1st quarter. Teachers Advisors LLC now owns 58,125 shares of the software maker’s stock worth $2,155,000 after acquiring an additional 811 shares in the last quarter. 74.82% of the stock is owned by institutional investors.

New Relic Company Profile

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.

Get a free copy of the Zacks research report on New Relic (NEWR)

For more information about research offerings from Zacks Investment Research, visit

According to Zacks, “New Relic, Inc. is a software analytics company. The Company offers solution which includes application development, production monitoring, real-time analytics, mobile application management and digital transformation. Its products include new relic APM, new relic mobile, new relic insights, new relic services, new relic browser and new relic platform. New Relic, Inc. is based in San Francisco, United States. “

A number of other analysts also recently weighed in on NEWR. Morgan Stanley downgraded shares of New Relic from an overweight rating to an equal weight rating and increased their price target 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. BidaskClub downgraded shares of New Relic from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. First Analysis downgraded shares of New Relic from an overweight rating to an equal weight rating and set a $50.00 price target on the stock. in a research report on Friday, August 4th. UBS AG increased their price target on shares of New Relic from $42.00 to $47.00 and gave the company a neutral rating in a research report on Friday, August 4th. Finally, Robert W. Baird set a $55.00 price target on shares of New Relic and gave the company a buy rating in a research report on Monday, September 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $50.17.

New Relic (NYSE NEWR) traded up 1.48% during mid-day trading on Thursday, hitting $51.57. 291,285 shares of the company were exchanged. New Relic has a 12-month low of $27.85 and a 12-month high of $51.97. The company has a 50 day moving average of $48.63 and a 200 day moving average of $44.13. The stock’s market cap is $2.81 billion.

New Relic (NYSE:NEWR) last announced 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. The business had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.09 million. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.19%. New Relic’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. On average, equities research analysts expect that New Relic will post ($0.25) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers New Relic, Inc. (NEWR) to Hold” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://ledgergazette.com/2017/10/08/zacks-investment-research-lowers-new-relic-inc-newr-to-hold.html.

In other news, VP Robin Schulman sold 1,349 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $48.78, for a total transaction of $65,804.22. Following the completion of the transaction, the vice president now directly owns 1,364 shares of the company’s stock, valued at approximately $66,535.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $50.40, for a total transaction of $252,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,427 shares of company stock valued at $9,359,953. 23.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. grew its stake in shares of New Relic by 1.8% during the 2nd quarter. D.A. Davidson & CO. now owns 7,907 shares of the software maker’s stock worth $340,000 after acquiring an additional 142 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of New Relic by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 41,109 shares of the software maker’s stock worth $1,768,000 after acquiring an additional 313 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of New Relic by 4.8% during the 2nd quarter. Suntrust Banks Inc. now owns 9,582 shares of the software maker’s stock worth $411,000 after acquiring an additional 442 shares in the last quarter. Botty Investors LLC grew its stake in shares of New Relic by 23.5% during the 2nd quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after acquiring an additional 535 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of New Relic by 1.4% during the 1st quarter. Teachers Advisors LLC now owns 58,125 shares of the software maker’s stock worth $2,155,000 after acquiring an additional 811 shares in the last quarter. 74.82% of the stock is owned by institutional investors.

New Relic Company Profile

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.

Get a free copy of the Zacks research report on New Relic (NEWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for New Relic (NYSE:NEWR)

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