New Relic (NYSE:NEWR)‘s stock had its “outperform” rating reiterated by equities researchers at BMO Capital Markets in a report released on Tuesday, The Fly reports. They currently have a $78.00 price target on the software maker’s stock. BMO Capital Markets’ target price would suggest a potential upside of 11.97% from the company’s previous close.

A number of other equities analysts also recently weighed in on NEWR. Barclays downgraded New Relic from an “equal weight” rating to an “underweight” rating and set a $63.00 price target for the company. in a research report on Friday, January 10th. SunTrust Banks upped their price target on New Relic from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Cowen set a $80.00 price target on New Relic and gave the stock a “buy” rating in a research report on Monday, September 23rd. Raymond James reiterated a “hold” rating on shares of New Relic in a research note on Monday, September 23rd. Finally, Zacks Investment Research cut New Relic from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $85.35.

NYSE:NEWR traded down $1.01 during trading hours on Tuesday, reaching $69.66. 3,414 shares of the stock were exchanged, compared to its average volume of 545,125. New Relic has a twelve month low of $50.00 and a twelve month high of $109.00. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a 50 day moving average of $68.18 and a 200 day moving average of $68.30. The stock has a market cap of $4.15 billion, a PE ratio of -65.69 and a beta of 0.96.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, November 5th. The software maker reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). New Relic had a negative return on equity of 8.90% and a negative net margin of 11.26%. The firm had revenue of $145.80 million for the quarter, compared to analyst estimates of $143.43 million. During the same period last year, the company earned $0.20 EPS. The company’s revenue was up 26.9% compared to the same quarter last year. Equities research analysts anticipate that New Relic will post -0.88 earnings per share for the current year.

In related news, CEO Lewis Cirne sold 8,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $68.59, for a total value of $583,015.00. Also, CFO Mark Sachleben sold 2,327 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $67.90, for a total value of $158,003.30. In the last 90 days, insiders sold 28,827 shares of company stock worth $1,941,613. 17.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in New Relic in the 3rd quarter valued at $27,000. NEXT Financial Group Inc grew its holdings in New Relic by 905.3% in the 3rd quarter. NEXT Financial Group Inc now owns 573 shares of the software maker’s stock valued at $35,000 after buying an additional 516 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in New Relic in the 2nd quarter valued at $55,000. Winslow Evans & Crocker Inc. grew its holdings in New Relic by 44.8% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 666 shares of the software maker’s stock valued at $44,000 after buying an additional 206 shares in the last quarter. Finally, Quantum Capital Management acquired a new position in New Relic in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 81.50% of the company’s stock.

About New Relic

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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The Fly

Analyst Recommendations for New Relic (NYSE:NEWR)

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