New Relic - NEWR Stock Forecast, Price & News

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for New Relic in the last year. There are currently 3 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" NEWR shares.
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9 equities research analysts have issued 1-year target prices for New Relic's shares. Their NEWR share price forecasts range from $50.00 to $150.00. On average, they predict the company's share price to reach $77.55 in the next twelve months. This suggests a possible upside of 42.7% from the stock's current price.
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New Relic's stock was trading at $109.96 at the beginning of the year. Since then, NEWR stock has decreased by 50.6% and is now trading at $54.34.
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New Relic saw a decrease in short interest in August. As of August 31st, there was short interest totaling 1,420,000 shares, a decrease of 9.6% from the August 15th total of 1,570,000 shares. Based on an average daily trading volume, of 742,800 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.3% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
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New Relic, Inc. (NYSE:NEWR) posted its earnings results on Thursday, August, 4th. The software maker reported ($0.79) EPS for the quarter, beating analysts' consensus estimates of ($0.94) by $0.15. The software maker earned $216.46 million during the quarter, compared to the consensus estimate of $212.68 million. New Relic had a negative trailing twelve-month return on equity of 68.32% and a negative net margin of 27.05%.

New Relic updated its second quarter 2023 earnings guidance on Thursday, August, 25th. The company provided earnings per share guidance of -$0.07--$0.04 for the period, compared to the consensus EPS estimate of -$0.07. The company issued revenue guidance of $219.00 million-$224.00 million, compared to the consensus revenue estimate of $225.29 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 initial public offering (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 served 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 a variety of institutional and retail investors. Top institutional shareholders include Eminence Capital LP (8.29%), Contour Asset Management LLC (3.75%), Clearbridge Investments LLC (2.81%), BNP PARIBAS ASSET MANAGEMENT Holding S.A. (2.30%), Sachem Head Capital Management LP (2.21%) and JPMorgan Chase & Co. (1.25%). Insiders that own company stock include David J Henshall, Kristy Friedrichs, Lewis Cirne, Mark Sachleben, Michael J Christenson, 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 $54.34.

New Relic (NYSE:NEWR) has a market capitalization of $3.66 billion and generates $785.52 million in revenue each year. The software maker earns $-250,400,000.00 in net income (profit) each year or ($3.40) on an earnings per share basis.

The company employs 2,217 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.