New Relic Inc. (NYSE: NEWR) is 38.60% higher on its value in year-to-date trading and has touched a low of $42.40 and a high of $86.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NEWR stock was last observed hovering at around $79.75 in the last trading session, with the day’s loss setting it -1.51% off its average median price target of $80.00 for the next 12 months. It is also 17.64% off the consensus price target high of $95.00 offered by 18 analysts, but current levels are -7.18% lower than the price target low of $73.00 for the same period.
Currently trading at $78.24, the stock is 2.79% and 6.32% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.07 million and changing -1.89% at the moment leaves the stock 21.84% off its SMA200. NEWR registered 70.49% gain for a year compared to 6-month gain of 50.72%. The firm has a 50-day simple moving average (SMA 50) of $5.67 and a 200-day simple moving average (SMA200) of -$48.74.
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The stock witnessed a 8.62% loss in the last 1 month and extending the period to 3 months gives it a 8.07%, and is -7.90% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.12% over the week and 3.26% over the month.
New Relic Inc. (NEWR) has around 2217 employees, a market worth around $5.39B and $888.90M in sales. Fwd P/E is 55.02. Profit margin for the company is -20.10%. Distance from 52-week low is 84.55% and -9.02% from its 52-week high. The company has generated returns on investments over the last 12 months (-27.90%).
New Relic Inc. (NEWR) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for New Relic Inc. (NEWR) is a “Overweight”. 18 analysts offering their recommendations for the stock have an average rating of 2.50, where 12 rate it as a Hold and 2 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
New Relic Inc. is expected to release its quarterly report on 08/02/2023.The EPS is expected to shrink by -22.90% this year
New Relic Inc. (NEWR) Top Institutional Holders
The shares outstanding are 68.05M, and float is at 55.14M with Short Float at 2.27%.
New Relic Inc. (NEWR) Insider Activity
A total of 62 insider transactions have happened at New Relic Inc. (NEWR) in the last six months, with sales accounting for 29 and purchases happening 33 times. The most recent transaction is an insider sale by Friedrichs Kristy, the company’s Chief Operating Officer. SEC filings show that Friedrichs Kristy sold 2,673 shares of the company’s common stock on May 18 at a price of $84.05 per share for a total of $0.22 million. Following the sale, the insider now owns 15698.0 shares.
New Relic Inc. disclosed in a document filed with the SEC on May 18 that Lloyd Thomas J. (Chief Legal Officer, Corp Secy) sold a total of 1,079 shares of the company’s common stock. The trade occurred on May 18 and was made at $84.04 per share for $90680.0. Following the transaction, the insider now directly holds 5214.0 shares of the NEWR stock.
Still, SEC filings show that on May 16, Staples William (Chief Executive Officer) disposed off 6,343 shares at an average price of $75.40 for $0.48 million. The insider now directly holds 112,233 shares of New Relic Inc. (NEWR).
New Relic Inc. (NEWR): Who are the competitors?
The company’s main competitors (and peers) include SS&C Technologies Holdings Inc. (SSNC) that is trading -11.90% down over the past 12 months and SPS Commerce Inc. (SPSC) that is 58.83% higher over the same period.
