The price of New Relic Inc. (NYSE:NEWR) shares last traded on Wall Street fell -0.68% to $70.59.
NEWR stock price is now 7.32% away from the 50-day moving average and 19.84% away from the 200-day moving average. The market capitalization of the company currently stands at $4.97B.
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With the price target reduced from $80 to $55, Truist Downgraded its rating from Buy to Hold for New Relic Inc. (NYSE: NEWR). On December 15, 2022, Wedbush recently initiated its ‘Neutral’ rating on the stock quoting a target price of $68, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, Cirne Lewis, Executive Chairman sold 15,000 shares of the company’s stock on Mar 07. The stock was sold for $1,111,422 at an average price of $74.09. Upon completion of the transaction, the Executive Chairman now directly owns 5,108,148 shares in the company, valued at $360.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 21, Chief Operating Officer Friedrichs Kristy sold 3,424 shares of the business’s stock. A total of $253,104 was realized by selling the stock at an average price of $73.92. This leaves the insider owning 12,255 shares of the company worth $0.87 million. Insiders disposed of 1,060,220 shares of company stock worth roughly $74.84 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NEWR stock. A new stake in New Relic Inc. shares was purchased by SQN INVESTORS LP during the first quarter worth $26,542,000. J. GOLDMAN & CO LP invested $14,914,000 in shares of NEWR during the first quarter. In the first quarter, PENN CAPITAL MANAGEMENT COMPANY, LLC acquired a new stake in New Relic Inc. valued at approximately $8,450,000. BANK OF MONTREAL /CAN/ acquired a new stake in NEWR for approximately $4,740,000. WALLEYE CAPITAL LLC purchased a new stake in NEWR valued at around $3,714,000 in the second quarter. In total, there are 352 active investors with 85.80% ownership of the company’s stock.
A candlestick chart of New Relic Inc. (NYSE: NEWR) showed a price of $70.19 on Monday morning. During the past 12 months, New Relic Inc. has had a low of $41.66 and a high of $80.88. As of last week, the company has a debt-to-equity ratio of 1.46, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for NEWR is $65.77 and a two-hundred day moving average price translates $58.91 for the stock.
The latest earnings results from New Relic Inc. (NYSE: NEWR) was released for Dec, 2022. According to the Software – Infrastructure Company, earnings per share came in at $0.32, beating analysts’ expectations of $0.15 by 0.17. This compares to -$0.82 EPS in the same period last year. The net profit margin was -20.10% and return on equity was -55.10% for NEWR. The company reported revenue of $239.76 million for the quarter, compared to $203.59 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.77 percent. For the current quarter, analysts expect NEWR to generate $240.89M in revenue.
New Relic Inc.(NEWR) Company Profile
New Relic, Inc., a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data. The company’s platform also provides New Relic Instant Observability, an open-source ecosystem of quickstarts that delivers pre-built integrations, dashboards, and alerts for approximately 450 technologies and frameworks; and supports custom app development through common open-source frameworks, a library of existing applications, and a development environment. It sells its products through direct sales organizations, and online and offline sales in the United States and internationally. New Relic, Inc. was founded in 2007 and is headquartered in San Francisco, California.
