New York: New Relic (NYSE:NEWR) Stock Has Just Had Its “Overweight” Rating Reiterated by KeyBanc. Shares now Have a $86 Target

March 19, 2018 - By Maria Brooks

 New York: New Relic (NYSE:NEWR) Stock Has Just Had Its

New Relic (NYSE:NEWR) Rating Reaffirmed

The financial company has just set a TP of $86 on New Relic (NYSE:NEWR) shares. This is 16.03 % from the close price. In analysts note revealed to investors on Monday morning, KeyBanc kept their “Overweight” rating on shares of NEWR.

New Relic, Inc. (NYSE:NEWR) Ratings Coverage

Among 16 analysts covering New Relic Inc (NYSE:NEWR), 11 have Buy rating, 0 Sell and 5 Hold. Therefore 69% are positive. New Relic Inc has $86 highest and $30 lowest target. $59.33’s average target is -19.95% below currents $74.12 stock price. New Relic Inc had 44 analyst reports since August 7, 2015 according to SRatingsIntel. First Analysis initiated New Relic, Inc. (NYSE:NEWR) on Wednesday, September 9 with “Overweight” rating. Stephens maintained New Relic, Inc. (NYSE:NEWR) rating on Wednesday, February 7. Stephens has “Buy” rating and $70.0 target. Morgan Stanley maintained New Relic, Inc. (NYSE:NEWR) on Wednesday, November 8 with “Equal-Weight” rating. The firm has “Buy” rating by Needham given on Tuesday, November 17. The firm has “Market Outperform” rating by JMP Securities given on Wednesday, November 8. The firm earned “Buy” rating on Monday, October 23 by Needham. Robert W. Baird maintained New Relic, Inc. (NYSE:NEWR) on Tuesday, February 6 with “Buy” rating. On Friday, December 11 the stock rating was initiated by Goldman Sachs with “Neutral”. The stock of New Relic, Inc. (NYSE:NEWR) earned “Outperform” rating by Oppenheimer on Thursday, September 10. The rating was maintained by UBS with “Neutral” on Thursday, November 9.

The stock decreased 2.15% or $1.63 during the last trading session, reaching $74.12. About 259,512 shares traded. New Relic, Inc. (NYSE:NEWR) has risen 65.48% since March 19, 2017 and is uptrending. It has outperformed by 48.78% the S&P500.

Analysts await New Relic, Inc. (NYSE:NEWR) to report earnings on May, 8. They expect $-0.15 EPS, up 42.31 % or $0.11 from last year’s $-0.26 per share. After $-0.13 actual EPS reported by New Relic, Inc. for the previous quarter, Wall Street now forecasts 15.38 % negative EPS growth.

New Relic, Inc., a software-as-a-service company, provides digital intelligence products worldwide. The company has market cap of $4.11 billion. The companyÂ’s cloud platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It currently has negative earnings. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser applications.

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