New Relic (NYSE:NEWR) Target Raised by Goldman Sachs Group Inc to $69.00

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New Relic stock has undergone multiple analysts rating changes in the recent past.  New Relic stock Target Raised by   Goldman Sachs Group Inc on 6/29/2020. In a note to investors, the firm issued a new target price of $69.00. The analysts previously had $60.00 target price. Goldman Sachs Group Inc’s price target would indicate a potential upside of 3.74% from the stock’s previous close.

Shares of New Relic traded down -$0.41 on Monday, reaching $67.46. 276504 shares of the stock traded hands, compared to its average volume of 1192786. Shares of were trading at $67.46 on Monday. The firm’s 50 day moving average is $62.22 and its 200 day moving average is 61.07.New Relic  has a 12 month low of $66.02 and a 12 month high of $96.46. While on yearly highs and lows, New Relic today has traded high as $68.11 and has touched $66.02 on the downward trend.

New Relic Earnings and What to expect: 

New Relic last released its quarterly earnings results on May 14th, 2020. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.35) by $0.49. The business had revenue of $159.66 million for the quarter, compared to analyst estimates of $153.59 million. New Relic has generated ($1.08) earnings per share over the last year. New Relic has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, August 4th, 2020 based off prior year’s report dates.

Earnings for New Relic are expected to grow in the coming year, from ($1.60) to ($1.53) per share. The P/E ratio of New Relic is -44.46, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of New Relic is -44.46, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. New Relic has a P/B Ratio of 10.19. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Latest Insiders Trading and Volume : 

  • Insider Ownership Percentage: 17.40%
  • On 6/1/2020 CEO Lewis Cirne Sell 40,000 at average share price of $67.67 which equates to $2,706,800.00 in money value.
  • On 5/1/2020 CEO Lewis Cirne Sell 34,500 at average price of  $50.75 with total value of : Not Data Available
  • On 4/1/2020 CEO Lewis Cirne Sell 31,000 at average price of  $44.80 with total value of : $1,388,800.00
  • See More Analyst Rating at: RATING

Other Analyst’s rating for New Relic

  • 6/11/2020 – New Relic had its price target raised by analysts at SunTrust Banks, Inc. from $75.00 to $80.00. They now have a “buy” rating on the stock. ()
  • 5/20/2020 – New Relic was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. ()
  • 5/16/2020 – New Relic was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. ()
  • 5/15/2020 – New Relic had its price target raised by analysts at BMO Capital Markets from $53.00 to $70.00. They now have a “market perform” rating on the stock. ()
  • See More Analyst Rating at: RATING

Other rating updates by Goldman Sachs Group Inc: 

  • 6/29/2020 – Bill.com is now covered by analysts at Goldman Sachs Group Inc. They set a “buy” rating and a $34.00 price target on the stock. ()
  • 6/29/2020 – Zuora had its price target raised by analysts at Goldman Sachs Group Inc from $10.00 to $11.00. ()
  • 6/29/2020 – Zendesk had its price target raised by analysts at Goldman Sachs Group Inc from $96.00 to $113.00. ()
  • 6/29/2020 – Workiva had its price target raised by analysts at Goldman Sachs Group Inc from $41.00 to $52.00. ()
  • See More Analyst Rating at: RATING

New Relic (NYSE:NEWR) Moving Average Technical Analysis

5 day Moving Average is $69.34 And 5 day price change is -5.5 (-7.58%)  with average volume for 5 day average is 637,209. While technical analysis for average 20 days shows significant difference, 20 day moving average is  69.16 and 20 day price change is -0.89 (-1.31%) and average 20 day moving volume is 983,002. 50 day moving average is 62.22  and 50 day price change is 15.6 ( 0.303)  and with average volume for 50 days is : 1,017,693. 200 day moving average is 61.07  and 200 day price change is 7.7 (0.1297)  and with average volume for 200 days is : 1,015,658.

See More Analyst Rating at: RATING