As of Wednesday close, New Relic Inc.’s (NYSE:NEWR) stock was down -$0.02, moving down -0.02 percent to $84.01. The average number of shares traded per day over the past five days has been 1,303,420 shares. 2 times new highs have been achieved over the past 5 days, with a $0.12 gain in that time frame. In the last twenty days, the average volume was 2,648,365, while in the previous 50 days, it was 1,423,600.
Since last month, NEWR stock rose 15.81%. Shares of the company fell to $69.94 on 07/17/23, the lowest level in the past month. A 52-week high of $86.00 was reached on 05/17/23 after having rallying from a 52-week low of $50.24. Since the beginning of this year, NEWR’s stock price has risen by 48.82% or $27.56, and marked a new high 12 times. However, the stock has declined by -2.31% since its 52-week high.
NEWR stock investors should be aware that New Relic Inc. (NEWR) stock had its last reported insider trading activity 42 days ago on Jul 06. Cirne Lewis, the Executive Chairman of the company, disposed of 15,000 shares for $65.54 on Jul 06. It resulted in a $983,094 divestment by the insider. Dodds Mark sold 9,008 shares at an average price of $67.95 on Jun 16. The insider now owns 13,143 shares following the transaction. On Jun 06, Executive Chairman Cirne Lewis sold 15,000 shares at $69.42 apiece. The transaction was valued at $1,041,300.
Valuation Metrics
The stock’s beta is 0.86. Besides these, the trailing price-to-sales (P/S) ratio of 6.20, the price-to-book (PB) ratio of 16.57, and the price-to-cash flow ratio of 85.56 may also be considered.
Financial Health
In the three months ended June 29, New Relic Inc.’s quick ratio stood at 1.40, while its current ratio was 1.40, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 75.20% percent. In the year ended June 29, EBITDA margin amounted to -8.53%, whereas operating margins totaled -17.10%. Based on annual data, NEWR earned $679.24 million in gross profit and brought in $925.63 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -22.40%. Return on equity (ROE) for the past 12 months was -49.30%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NEWR’s revenue rose 10.79% to $242.49 million during the quarter, while net income inched up to $242.63 million. While analysts expected New Relic Inc. to report $0.31 quarterly earnings, the actual figure was $0.43 per share, beating the consensus estimate by 38.70%. During the quarter, the company generated -$20.87 million in EBITDA. The liabilities of New Relic Inc. were 538.4 million at the end of its most recent quarter ended June 29, and its total debt was $44.84 million. The value of shareholders’ equity is $70.22 million.
Technical Picture
This quick technical analysis looks at New Relic Inc.’s (NEWR) price momentum. With a historical volatility rate of 2.98%, the RSI 9-day stood at 78.27% on 16 August.
With respect to its five-day moving average, the current New Relic Inc. price is up by +0.14% percent or $0.12. At present, NEWR shares trade +15.76% above its 20-day simple moving average and +19.96% percent above its 100-day simple moving average. However, the stock is currently trading approximately +20.62% above its SMA50 and +39.25% above its SMA200.
Stochastic coefficient K was 94.12% and Stochastic coefficient D was 93.93%, while ATR was 1.04. Given the Stochastic reading of 94.17% for the 14-day period, the RSI (14) reading has been calculated as 74.64%. As of today, the MACD Oscillator reading stands at -0.04, while the 14-day reading stands at 0.69.
Analyst Ratings
RBC Capital Mkts upgraded its rating on New Relic Inc. (NYSE: NEWR) to an Outperform in a note to investors on May 26, 2023. The analysts firm previously had a Sector perform rating on the stock.New Relic Inc. (NEWR) has been rated Hold by analysts. According to 0 brokerage firms, NEWR is a sell, and 15 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate New Relic Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $87.00, the current consensus forecast for the stock is $75.00 – $95.00. Based on these forecasts, analysts predict New Relic Inc. (NEWR) will achieve an average price target of $87.09.
