Shares of New Relic, Inc. (NYSE:NEWR) have been given a consensus rating of “Buy” by the fourteen analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $53.36.

Several analysts have commented on NEWR shares. Zacks Investment Research raised shares of New Relic from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, October 4th. Oppenheimer reaffirmed a “buy” rating and issued a $50.00 target price on shares of New Relic in a research note on Tuesday, September 19th. Needham & Company LLC started coverage on shares of New Relic in a research note on Monday, October 23rd. They set a “buy” rating and a $69.00 price objective for the company. BidaskClub cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Finally, Robert W. Baird set a $55.00 price objective on shares of New Relic and gave the company a “buy” rating in a research note on Monday, September 11th.

In related news, CFO Mark Sachleben sold 836 shares of New Relic stock in a transaction on Monday, September 18th. The shares were sold at an average price of $48.31, for a total transaction of $40,387.16. Following the transaction, the chief financial officer now owns 2,203 shares in the company, valued at approximately $106,426.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James R. Gochee sold 4,000 shares of New Relic stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $49.70, for a total transaction of $198,800.00. Following the transaction, the insider now owns 346,980 shares in the company, valued at approximately $17,244,906. The disclosure for this sale can be found here. Insiders have sold a total of 185,591 shares of company stock valued at $9,426,662 over the last three months. Corporate insiders own 23.10% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its holdings 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 valued at $340,000 after acquiring an additional 142 shares in the last quarter. Macquarie Group Ltd. lifted its holdings 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 valued at $1,768,000 after acquiring an additional 313 shares in the last quarter. Suntrust Banks Inc. lifted its holdings 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 valued at $411,000 after acquiring an additional 442 shares in the last quarter. Botty Investors LLC lifted its holdings 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 valued at $121,000 after acquiring an additional 535 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings 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 valued at $2,155,000 after acquiring an additional 811 shares in the last quarter. Institutional investors and hedge funds own 77.22% of the company’s stock.

New Relic (NYSE:NEWR) traded up $1.83 during mid-day trading on Friday, reaching $58.11. 695,033 shares of the company’s stock traded hands, compared to its average volume of 464,610. New Relic has a 12-month low of $27.85 and a 12-month high of $59.90.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $84.68 million during the quarter, compared to analysts’ expectations of $82.98 million. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. New Relic’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. equities analysts anticipate that New Relic will post -0.98 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for New Relic (NYSE:NEWR)

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