New Relic Inc’s Stock Is Buy After Today’s Bullish Options Activity

 New Relic Inc's Stock Is Buy After Today's Bullish Options Activity

In today’s session New Relic Inc (NEWR) registered an unusually high (360) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious NEWR increase. With 360 contracts traded and 144 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: NEWR161118C00030000 closed last at: $5.1 or 64.5% up. About 148,543 shares traded hands. New Relic Inc (NYSE:NEWR) has risen 37.25% since April 7, 2016 and is uptrending. It has outperformed by 32.47% the S&P500.

New Relic Inc (NYSE:NEWR) Ratings Coverage

Out of 9 analysts covering New Relic Inc (NYSE:NEWR), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. $47 is the highest target while $30 is the lowest. The $40.22 average target is 17.09% above today’s ($34.35) stock price. New Relic Inc has been the topic of 14 analyst reports since August 7, 2015 according to StockzIntelligence Inc. DA Davidson upgraded it to “Buy” rating and $43 target price in Wednesday, August 12 report. The stock of New Relic Inc (NYSE:NEWR) has “Outperform” rating given on Thursday, September 10 by Oppenheimer. Needham initiated the stock with “Buy” rating in Tuesday, November 17 report. The firm earned “Overweight” rating on Monday, September 21 by Pacific Crest. The rating was initiated by First Analysis with “Overweight” on Wednesday, September 9. Goldman Sachs initiated the shares of NEWR in a report on Friday, December 11 with “Neutral” rating. The stock of New Relic Inc (NYSE:NEWR) earned “Buy” rating by Guggenheim on Tuesday, December 15. On Thursday, September 10 the stock rating was upgraded by Morgan Stanley to “Overweight”. The stock has “Neutral” rating given by Robert W. Baird on Friday, May 13. The company was initiated on Friday, June 24 by Cowen & Co.

According to Zacks Investment Research, “New Relic, Inc. is a software analytics company. The Company offers solution which includes application development, production monitoring, real-time analytics, mobile application management and digital transformation. Its products include new relic APM, new relic mobile, new relic insights, new relic services, new relic browser and new relic platform. New Relic, Inc. is based in San Francisco, United States.”

New Relic, Inc. is a provider of enterprise software. The company has a market cap of $1.73 billion. The Company’s cloud platform and range of products enable organizations to collect, store and analyze software data in real time. It currently has negative earnings. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

NEWR Company Profile

New Relic, Inc. (New Relic), incorporated on October 5, 2007, is a well-known provider of enterprise software. The Company’s cloud platform and range of products (known as New Relic Software Analytics Cloud) enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform. The Company’s products for technology users focus on software performance management and monitoring. New Relic offers an integrated suite of products, which include New Relic APM for application performance management; New Relic Mobile for mobile application performance management; New Relic Servers for server monitoring for cloud and data centers; New Relic Browser for end user experience monitoring and performance monitoring; New Relic Synthetics for software testing through simulated usage; New Relic Plugins, which are plugins to extend its functionality into other applications; New Relic Alerts for policy management and delivering alerts across entire suite of products, and New Relic Insights for real-time big data analytics for business managers.

More news for New Relic Inc (NYSE:NEWR) were recently published by: Fool.com, which released: “Why New Relic Inc Shares Plummeted on Friday” on February 05, 2016. Prnewswire.com‘s article titled: “New Relic Helps Leading Retailers Prepare for and Thrive During Their “Black …” and published on October 04, 2016 is yet another important article.

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