Needham analyst Jack Andrews maintained a Buy rating on New Relic Inc (NYSE: NEWR) today and set a price target of $129. The company’s shares opened today at $102.94, close to its 52-week high of $114.78.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 16.9% and a 65.7% success rate. Andrews covers the Technology sector, focusing on stocks such as Attunity Ltd, Hortonworks, and Nutanix Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for New Relic Inc with a $110.27 average price target, implying a 7.1% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $110 price target.
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The company has a one-year high of $114.78 and a one-year low of $43.42. Currently, New Relic Inc has an average volume of 888.8K.
Based on the recent corporate insider activity of 126 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Mark Sachleben, the CFO of NEWR sold 16,089 shares for a total of $1,734,214.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
New Relic, Inc. engages in the provision of software-as-a-services for digital intelligence products. It allows the users to monitor software and infrastructure performance and measure end user activities through desktop and mobile devices. The company was founded by Lewis Cirne in September 2007 and is headquartered in San Francisco, CA.
