New Relic Inc (NYSE:NEWR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $113.67, but opened at $107.11. New Relic shares last traded at $100.56, with a volume of 608336 shares trading hands.

Several research firms have recently issued reports on NEWR. BMO Capital Markets restated an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of New Relic in a report on Thursday, February 7th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and issued a $124.00 price objective (up previously from $116.00) on shares of New Relic in a report on Thursday, February 7th. ValuEngine upgraded New Relic from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. Finally, DA Davidson restated a “buy” rating on shares of New Relic in a report on Thursday, February 7th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $117.42.

The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -136.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.53 and a quick ratio of 3.53.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $128.19 million. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. New Relic’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities research analysts anticipate that New Relic Inc will post -0.3 EPS for the current fiscal year.

In related news, CEO Lewis Cirne sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $94.29, for a total transaction of $377,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Sachleben sold 22,641 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $106.53, for a total value of $2,411,945.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,341 shares of company stock worth $13,058,174. Insiders own 20.40% of the company’s stock.

A number of large investors have recently made changes to their positions in NEWR. NumerixS Investment Technologies Inc bought a new position in shares of New Relic during the 4th quarter worth approximately $32,000. Wealthcare Advisory Partners LLC increased its stake in shares of New Relic by 33.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 400 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of New Relic by 58.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock valued at $35,000 after buying an additional 132 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in shares of New Relic in the 4th quarter valued at $40,000. Finally, Evolution Wealth Advisors LLC acquired a new stake in shares of New Relic in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.

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About New Relic (NYSE:NEWR)

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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