Time to Reconsider New Relic, Inc. (NEWR) After Making All-Time High?

March 21, 2018 - By Adrian Erickson

The stock of New Relic, Inc. (NYSE:NEWR) reached all time high today, Mar, 21 and still has $83.23 target or 6.00 % above today’s $78.52 share price. This indicates more upside for the $4.35B company. This technical setup was reported by Barchart.com. If the $83.23 PT is reached, the company will be worth $261.18M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 1.36% or $1.05 during the last trading session, reaching $78.52. About 442,054 shares traded. New Relic, Inc. (NYSE:NEWR) has risen 65.48% since March 21, 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 earnings per share, up 42.31 % or $0.11 from last year’s $-0.26 per share. After $-0.13 actual earnings per share reported by New Relic, Inc. for the previous quarter, Wall Street now forecasts 15.38 % negative EPS growth.

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 had 44 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Market Outperform” rating given on Wednesday, November 8 by JMP Securities. Robert W. Baird maintained the stock with “Buy” rating in Tuesday, February 6 report. As per Thursday, August 10, the company rating was maintained by Oppenheimer. The stock has “Buy” rating by Robert W. Baird on Friday, March 16. As per Wednesday, November 8, the company rating was maintained by KeyBanc Capital Markets. Needham initiated New Relic, Inc. (NYSE:NEWR) on Tuesday, November 17 with “Buy” rating. The firm earned “Hold” rating on Friday, January 12 by BMO Capital Markets. Cowen & Co maintained the shares of NEWR in report on Friday, August 4 with “Buy” rating. The stock has “Neutral” rating by Goldman Sachs on Friday, December 11. The firm earned “Buy” rating on Monday, October 23 by Needham.

New Relic, Inc., a software-as-a-service company, provides digital intelligence products worldwide. The company has market cap of $4.35 billion. The company??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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