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 twelve months. There are currently 8 hold ratings, 4 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" NEWR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NEWR, but not buy additional shares or sell existing shares.
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13 brokerages have issued twelve-month target prices for New Relic's stock. Their NEWR share price forecasts range from $57.00 to $90.00. On average, they anticipate the company's stock price to reach $77.54 in the next year. This suggests a possible upside of 8.2% from the stock's current price.
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New Relic's stock was trading at $56.45 on January 1st, 2023. Since then, NEWR stock has increased by 26.9% and is now trading at $71.66.
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New Relic saw a decline in short interest in March. As of March 15th, there was short interest totaling 804,700 shares, a decline of 27.5% from the February 28th total of 1,110,000 shares. Based on an average daily trading volume, of 569,500 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.3% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, May 11th 2023.
View our NEWR earnings forecast.

New Relic, Inc. (NYSE:NEWR) announced its quarterly earnings results on Tuesday, February, 7th. The software maker reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.20. The software maker had revenue of $239.76 million for the quarter, compared to analysts' expectations of $232.63 million. New Relic had a negative trailing twelve-month return on equity of 48.42% and a negative net margin of 20.08%.

ETFs with the largest weight of New Relic (NYSE:NEWR) stock in their portfolio include Innovator IBD Breakout Opportunities ETF (BOUT), 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) and Wedbush ETFMG Global Cloud Technology ETF (IVES).

New Relic issued an update on its FY 2023 earnings guidance on Tuesday, February, 7th. The company provided earnings per share (EPS) guidance of $0.40-$0.43 for the period, compared to the consensus estimate of $0.19. The company issued revenue guidance of $923.10 million-$925.10 million, compared to the consensus revenue estimate of $914.92 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 a price of $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 a number of retail and institutional investors. Top institutional shareholders include Eminence Capital LP (7.43%), Engaged Capital LLC (3.79%), BNP PARIBAS ASSET MANAGEMENT Holding S.A. (3.07%), Clearbridge Investments LLC (2.81%), Senvest Management LLC (1.66%) and Geode Capital Management LLC (1.10%). Insiders that own company stock include David Barter, David J Henshall, Jana Partners Llc, Kristy Friedrichs, Lewis Cirne, 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 $71.66.

New Relic (NYSE:NEWR) has a market capitalization of $4.94 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 ($2.68) 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.