New Relic (NEWR) Stock Forecast, Price & News

13 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for New Relic in the last year. There are currently 6 hold ratings, 6 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" NEWR shares.
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13 Wall Street analysts have issued twelve-month price objectives for New Relic's shares. Their NEWR share price forecasts range from $57.00 to $95.00. On average, they predict the company's stock price to reach $81.13 in the next year. This suggests a possible upside of 15.7% from the stock's current price.
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New Relic's stock was trading at $56.45 at the beginning of 2023. Since then, NEWR shares have increased by 24.2% and is now trading at $70.12.
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New Relic saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 1,250,000 shares, an increase of 22.5% from the April 30th total of 1,020,000 shares. Based on an average trading volume of 642,700 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.0% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
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New Relic, Inc. (NYSE:NEWR) posted its quarterly earnings results on Monday, November, 8th. The software maker reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.03. The software maker earned $195.70 million during the quarter, compared to the consensus estimate of $182.21 million. New Relic had a negative trailing twelve-month return on equity of 35.50% and a negative net margin of 19.47%. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.68) EPS.

ETFs with the largest weight of New Relic (NYSE:NEWR) stock in their portfolio include ProShares Big Data Refiners ETF (DAT), Invesco Dynamic Networking ETF (PXQ), iShares Future Cloud 5G and Tech ETF (IDAT), Fidelity Cloud Computing ETF (FCLD), ROBO Global Artificial Intelligence ETF (THNQ), WisdomTree Cloud Computing Fund (WCLD), Wedbush ETFMG Global Cloud Technology ETF (IVES) and First Trust Technology AlphaDEX Fund (FXL).

New Relic updated its first quarter 2024 earnings guidance on Friday, May, 26th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $238.00 million-$240.00 million, compared to the consensus revenue estimate of $251.15 million.

441 employees have rated New Relic Chief Executive Officer Lew Cirne on Glassdoor.com. Lew Cirne has an approval rating of 86% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other New Relic investors own include NVIDIA (NVDA), Adobe (ADBE), Block (SQ), PayPal (PYPL), Okta (OKTA), Alibaba Group (BABA), Cisco Systems (CSCO), Micron Technology (MU), Trade Desk (TTD) and Walt Disney (DIS).

(NEWR) raised $95 million in an IPO on Friday, December 12th 2014. The company issued 5,000,000 shares at $18.00-$20.00 per share. Morgan Stanley and J.P. Morgan acted as the underwriters for the IPO and Allen & Company, UBS Securities, JMP Securities and Raymond James were co-managers.

New Relic trades on the New York Stock Exchange (NYSE) under the ticker symbol "NEWR."

New Relic's stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (4.69%), Wellington Management Group LLP (3.26%), Champlain Investment Partners LLC (3.02%), Clearbridge Investments LLC (2.83%), BNP PARIBAS ASSET MANAGEMENT Holding S.A. (2.55%) and Geode Capital Management LLC (1.14%). Insiders that own company stock include David Barter, David J Henshall, Jana Partners Llc, Kristy Friedrichs, Lewis Cirne, Mark Dodds, Mark Sachleben, Michael J Christenson, Radhakrishnan Mahendran, Steve Hurn, Thomas J Lloyd and William Staples.
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Shares of NEWR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NEWR stock can currently be purchased for approximately $70.12.

New Relic (NYSE:NEWR) has a market capitalization of $4.92 billion and generates $925.63 million in revenue each year. The software maker earns $-180,250,000.00 in net income (profit) each year or ($2.67) on an earnings per share basis.

The company employs 2,663 workers across the globe.

New Relic's mailing address is 188 Spear Street Suite 1000, San Francisco CA, 94105. The official website for the company is www.newrelic.com. The software maker can be reached via phone at (650) 777-7600, via email at ir@newrelic.com, or via fax at 604-601-8279.