The stock of New Relic Inc. (NYSE:NEWR) decreased by $0.0 on Wednesday to $85.40, down 0.00 percent. The last five days have seen an average of 2,884,731 shares of common stock traded. 12 times new highs were reached in the current year, with a gain of $28.95. The average number of shares traded over the last 20 days was 1,266,598, while the average volume over the last 50 days totaled 1,703,811.
NEWR stock appreciated 1.03% since last month. On 08/21/23, the company’s shares reached a one-month low of $84.11. The stock touched a high of $86.00 on 05/17/23, after rallying from a low of $50.24 in 52 weeks. The price of NEWR stock has risen by 51.28% or $28.95 this year, reaching a new high 12 times. Still, the stock price is down -0.70% from the 52-week high.
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Insider Transactions
NEWR stock investors should be aware that New Relic Inc. (NEWR) stock had its last reported insider trading activity 33 days ago on Aug 18. On Aug 18, Chief Legal Officer, Corp Secy Lloyd Thomas J. sold 1,314 shares at $84.00 each. This transaction resulted in the insider making $110,376. On Aug 16, Staples William sold 8,658 shares at a price of US$84.04. After the transaction, the insider now owns 123,243 shares. Chief Financial Officer Barter David had earlier sold 4,020 shares on Aug 16 for $84.03 a share. The transaction was completed for $337,819.
Valuation Metrics
Beta for the stock is 0.86. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 6.31, the price-to-book (PB) ratio of 16.84, and the price-to-cash flow ratio of 87.02.
Financial Health
For the three months ended June 29, New Relic Inc.’s quick ratio was 1.40, while its current ratio was 1.40, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 75.20% percent. New Relic Inc.’s EBITDA margin for the year ended June 29 was -8.53%, whereas its operating margin stood at -17.10% for the same period. Based on annual data, it had gross profit of $679.24 million and revenue of $925.63 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NEWR’s return on assets (ROA) during the last 12 months has been -13.50%. There was a -22.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -49.30%.
Earnings Surprise
According to New Relic Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $242.63 million, while revenues rose by 10.79% to $242.49 million. It was predicted that New Relic Inc.’s quarterly earnings would be $0.43, but it ended up being $0.31, beating the consensus by 38.70%. EBITDA was -$20.87 million for the quarter. At the end of New Relic Inc.’s most recent quarter ended June 29, its liabilities totaled 538.4 million, while its total debt was $44.84 million. Equity owned by shareholders amounts to $70.22 million.
Technical Picture
Here’s a quick look at New Relic Inc.’s (NEWR) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 71.51%, suggesting the stock is Overbought, with a 1.14% historical volatility rate.
The stochastic %K and %D were 76.57% and 78.84% respectively, while the average true range (ATR) was 0.24. Based on the 14-day stochastic reading of 71.15%, the RSI (14) reading is 73.05%. On the 9-day MACD Oscillator, the stock is at -0.03, and the 14-day reading is at 0.05.
Analyst Ratings
New Relic Inc. (NYSE: NEWR) was downgraded by DA Davidson to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned New Relic Inc. (NEWR) an Hold rating. NEWR is a stock that is recommended for selling by 0 brokerage firms, while 14 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is NEWR’s price target for the next 12 months?
The current consensus forecast for the stock is between $75.00 and $92.00, with a median target price of $87.00. In analyzing these forecasts, the average price target given by analysts for New Relic Inc. (NEWR) is $86.36.
