New Relic Inc (NEWR) was Initiated by Robert W. Baird to “Neutral” and the brokerage firm has set the Price Target at $30. Robert W. Baird advised their investors in a research report released on May 13, 2016.
On the company’s financial health, New Relic Inc reported $-0.24 EPS for the quarter, based on the information available during the earnings call on May 10, 2016. Analyst had a consensus estimate of $-0.24. The company had revenue of $52.50 million for the quarter, compared to analysts expectations of $50.67 million. The company’s revenue was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.
New Relic Inc opened for trading at $25.37 and hit $26.14 on the upside on Tuesday, eventually ending the session at $25.89, with a gain of 2.49% or 0.63 points. The heightened volatility saw the trading volume jump to 9,08,349 shares. Company has a market cap of $1,283 M.
In a different news, on May 11, 2016, James R. Gochee (Chief Product Officer) sold 1,000 shares at $24.89 per share price. According to the SEC, on May 3, 2016, Mark Sachleben (Chief Financial Officer) sold 3,500 shares at $25.86 per share price. On May 3, 2016, Lewis Cirne (CEO) sold 39,000 shares at $25.61 per share price, according to the Form-4 filing with the securities and exchange commission.
New Relic Inc. (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enables organizations to collect store and analyze software data in real time. The Company’s Software Analytics solution consists of an integrated suite of products a data database and an open platform. Its products for technology users focus on software performance management and monitoring. New Relic offers an integrated suite of seven products namely New Relic APM for application performance management; New Relic Mobile 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 plugins to extend its functionality into other applications and New Relic Insights for real-time big data analytics for business managers.