New Relic Inc. [NEWR] stock Downgrade by JP Morgan analyst, price target now $61

New Relic Inc. [NYSE: NEWR] price surged by 0.41 percent to reach at $0.22. The company report on August 10, 2020 that New Relic and Grafana Labs Partner to Advance Open Instrumentation.

World’s #1 open source visualization software, Grafana, teams up with New Relic’s Telemetry Data Platform.

Allows developer teams across the globe to see all operational data in one place and break down data silos.

A sum of 2031646 shares traded at recent session while its average daily volume was at 1.26M shares. New Relic Inc. shares reached a high of $54.42 and dropped to a low of $52.13 until finishing in the latest session at $53.84.

The one-year NEWR stock forecast points to a potential upside of 22.42. The average equity rating for NEWR stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on New Relic Inc. [NEWR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEWR shares is $69.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEWR stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for New Relic Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 05, 2020. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $70 to $78. The new note on the price target was released on August 04, 2020, representing the official price target for New Relic Inc. stock. Previously, the target price had yet another raise to $72, while Cowen analysts kept a Market Perform rating on NEWR stock.

The Average True Range (ATR) for New Relic Inc. is set at 3.59, with the Price to Sales ratio for NEWR stock in the period of the last 12 months amounting to 5.37. The Price to Book ratio for the last quarter was 8.21, with the Price to Cash per share for the same quarter was set at 13.38. Price to Free Cash Flow for NEWR in the course of the last twelve months was 79.63 with Quick ratio for the last quarter at 2.80.

NEWR Stock Performance Analysis:

New Relic Inc. [NEWR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.63. With this latest performance, NEWR shares dropped by -20.68% in over the last four-week period, additionally sinking by -11.84% over the last 6 months – not to mention a drop of -14.65% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEWR stock in for the last two-week period is set at 31.42, with the RSI for the last a single of trading hit 26.59, and the three-weeks RSI is set at 35.75 for New Relic Inc. [NEWR]. The present Moving Average for the last 50 days of trading for this stock 67.10, while it was recorded at 58.38 for the last single week of trading, and 61.68 for the last 200 days.

Insight into New Relic Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and New Relic Inc. [NEWR] shares currently have an operating margin of -13.36 and a Gross Margin at +82.79. New Relic Inc.’s Net Margin is presently recorded at -14.83.

Return on Total Capital for NEWR is now -9.74, given the latest momentum, and Return on Invested Capital for the company is -10.91. Return on Equity for this stock declined to -24.03, with Return on Assets sitting at -7.57. When it comes to the capital structure of this company, New Relic Inc. [NEWR] has a Total Debt to Total Equity ratio set at 126.23. Additionally, NEWR Total Debt to Total Capital is recorded at 55.80, with Total Debt to Total Assets ending up at 39.19. Long-Term Debt to Equity for the company is recorded at 124.01, with the Long-Term Debt to Total Capital now at 54.82.

Reflecting on the efficiency of the workforce at the company, New Relic Inc. [NEWR] managed to generate an average of -$41,735 per employee. Receivables Turnover for the company is 4.47 with a Total Asset Turnover recorded at a value of 0.51.New Relic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 2.80.

NEWR Stock EPS

With the latest financial reports released by the company, New Relic Inc. posted 0.24/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEWR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New Relic Inc. go to 7.70%.

New Relic Inc. [NEWR] Insider Position Details

There are presently around $2,823 million, or 90.60% of NEWR stock, in the hands of institutional investors. The top three institutional holders of NEWR stocks are: VANGUARD GROUP INC with ownership of 4,875,939, which is approximately 1.053% of the company’s market cap and around 14.53% of the total institutional ownership; EMINENCE CAPITAL, LP, holding 3,832,772 shares of the stock with an approximate value of $206.36 million in NEWR stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $204.32 million in NEWR stock with ownership of nearly 16.389% of the company’s market capitalization.

Positions in New Relic Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 130 institutional holders increased their position in New Relic Inc. [NYSE:NEWR] by around 13,868,000 shares. Additionally, 124 investors decreased positions by around 13,030,581 shares, while 24 investors held positions by with 25,532,653 shares. The mentioned changes placed institutional holdings at 52,431,234 shares, according to the latest SEC report filing. NEWR stock had 34 new institutional investments in for a total of 2,648,531 shares, while 52 institutional investors sold positions of 4,132,945 shares during the same period.

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