TheStreet upgraded shares of New Relic (NYSE:NEWR) from a d rating to a c rating in a report released on Thursday.

Several other equities analysts have also issued reports on the company. ValuEngine lowered New Relic from a strong-buy rating to a buy rating in a research report on Monday, July 30th. Wedbush restated an outperform rating and set a $86.00 price target on shares of New Relic in a research report on Wednesday, April 25th. Needham & Company LLC raised their price target on New Relic from $121.00 to $129.00 and gave the stock a buy rating in a research report on Wednesday, August 8th. Argus began coverage on New Relic in a research report on Tuesday, July 17th. They set a hold rating on the stock. Finally, BMO Capital Markets raised their price target on New Relic from $95.00 to $110.00 and gave the stock an outperform rating in a research report on Tuesday, June 5th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $99.13.

Shares of NYSE NEWR opened at $105.47 on Thursday. The stock has a market cap of $5.71 billion, a P/E ratio of -142.53 and a beta of 0.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 3.83 and a current ratio of 3.83. New Relic has a 1-year low of $46.24 and a 1-year high of $114.78.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. The company had revenue of $108.22 million for the quarter, compared to analysts’ expectations of $106.09 million. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. equities analysts expect that New Relic will post -0.38 earnings per share for the current year.

In other news, CEO Lewis Cirne sold 89,000 shares of New Relic stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $104.65, for a total value of $9,313,850.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James R. Gochee sold 331 shares of New Relic stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $109.05, for a total value of $36,095.55. Following the completion of the sale, the insider now owns 320,252 shares in the company, valued at $34,923,480.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,344 shares of company stock worth $39,894,607. Corporate insiders own 20.40% of the company’s stock.

Several hedge funds have recently modified their holdings of NEWR. Wells Fargo & Company MN grew its position in shares of New Relic by 103.8% in the 1st quarter. Wells Fargo & Company MN now owns 205,706 shares of the software maker’s stock worth $15,247,000 after buying an additional 104,765 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of New Relic in the 1st quarter worth approximately $1,036,000. SFE Investment Counsel bought a new stake in shares of New Relic in the 1st quarter worth approximately $233,000. SG Americas Securities LLC bought a new stake in shares of New Relic in the 1st quarter worth approximately $265,000. Finally, Mackay Shields LLC bought a new stake in shares of New Relic in the 1st quarter worth approximately $800,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.

New Relic Company Profile

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

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Analyst Recommendations for New Relic (NYSE:NEWR)

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