What’s in New Relic, Inc. (NEWR) After Today’s Huge Decline?

December 12, 2017 - By Vivian Park

The stock of New Relic, Inc. (NYSE:NEWR) is a huge mover today! The stock decreased 5.45% or $3.27 during the last trading session, reaching $56.73. About 862,870 shares traded or 123.56% up from the average. New Relic, Inc. (NYSE:NEWR) has risen 65.48% since December 12, 2016 and is uptrending. It has outperformed by 48.78% the S&P500.
The move comes after 8 months negative chart setup for the $3.12 billion company. It was reported on Dec, 12 by Barchart.com. We have $53.33 PT which if reached, will make NYSE:NEWR worth $187.44 million less.

Analysts await New Relic, Inc. (NYSE:NEWR) to report earnings on February, 6. They expect $-0.27 earnings per share, down 3.85 % or $0.01 from last year’s $-0.26 per share. After $-0.25 actual earnings per share reported by New Relic, Inc. for the previous quarter, Wall Street now forecasts 8.00 % negative EPS growth.

New Relic, Inc. (NYSE:NEWR) Ratings Coverage

Among 13 analysts covering New Relic Inc (NYSE:NEWR), 10 have Buy rating, 0 Sell and 3 Hold. Therefore 77% are positive. New Relic Inc had 33 analyst reports since August 7, 2015 according to SRatingsIntel. On Friday, December 11 the stock rating was initiated by Goldman Sachs with “Neutral”. The company was downgraded on Thursday, July 20 by Morgan Stanley. The rating was initiated by Needham with “Buy” on Tuesday, November 17. The firm has “Buy” rating by DA Davidson given on Wednesday, August 12. The firm has “Market Outperform” rating by JMP Securities given on Wednesday, November 8. UBS maintained it with “Neutral” rating and $47 target in Friday, August 4 report. The firm has “Overweight” rating given on Wednesday, September 9 by First Analysis. The firm has “Overweight” rating by Pacific Crest given on Monday, September 21. The rating was upgraded by Morgan Stanley to “Overweight” on Thursday, September 10. The stock of New Relic, Inc. (NYSE:NEWR) earned “Equal-Weight” rating by Morgan Stanley on Wednesday, November 8.

Another recent and important New Relic, Inc. (NYSE:NEWR) news was published by Streetinsider.com which published an article titled: “Form SC 13G/A NEW RELIC, INC. Filed by: FMR LLC” on December 11, 2017.

New Relic, Inc., a software-as-a-service company, provides digital intelligence products worldwide. The company has market cap of $3.12 billion. The companyÂ’s cloud platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It currently has negative earnings. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser applications.

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