BMO Capital Markets reissued their outperform rating on shares of New Relic (NYSE:NEWR) in a research note issued to investors on Tuesday, Briefing.com Automated Import reports. BMO Capital Markets currently has a $115.00 target price on the software maker’s stock, down from their prior target price of $118.00.

Other analysts have also recently issued research reports about the company. ValuEngine raised Valmont Industries from a sell rating to a hold rating in a research report on Friday, July 12th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Needham & Company LLC reaffirmed a buy rating and issued a $87.00 target price on shares of LivaNova in a research report on Wednesday, May 15th. Wedbush reiterated an outperform rating and set a $124.00 price objective on shares of New Relic in a report on Wednesday, May 15th. Finally, Goldman Sachs Group assumed coverage on HubSpot in a report on Friday, June 7th. They set a buy rating and a $223.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $114.92.

NEWR opened at $88.65 on Tuesday. New Relic has a 12 month low of $70.30 and a 12 month high of $114.78. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 1.16. The firm has a market cap of $5.14 billion, a PE ratio of -285.97 and a beta of 0.82. The firm has a 50 day simple moving average of $93.84.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $128.19 million. New Relic had a negative return on equity of 6.57% and a negative net margin of 8.53%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. As a group, equities analysts predict that New Relic will post -0.56 EPS for the current fiscal year.

In other New Relic news, CEO Lewis Cirne sold 500 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $91.50, for a total transaction of $45,750.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Erica Schultz sold 3,680 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $100.82, for a total value of $371,017.60. Following the transaction, the executive now owns 24,676 shares in the company, valued at $2,487,834.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,950 shares of company stock valued at $17,972,923. 17.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in shares of New Relic by 270.4% in the 4th quarter. Raymond James & Associates now owns 24,867 shares of the software maker’s stock worth $2,013,000 after acquiring an additional 18,154 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of New Relic by 22.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,391 shares of the software maker’s stock valued at $436,000 after buying an additional 987 shares during the period. Northern Trust Corp grew its holdings in shares of New Relic by 0.5% in the 4th quarter. Northern Trust Corp now owns 580,379 shares of the software maker’s stock valued at $46,993,000 after buying an additional 2,944 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of New Relic in the 4th quarter valued at $32,000. Finally, Great West Life Assurance Co. Can boosted its stake in New Relic by 19.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,088 shares of the software maker’s stock worth $398,000 after purchasing an additional 822 shares during the period. Institutional investors own 78.69% 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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