UBS Sticks to Its Hold Rating for New Relic Inc (NEWR)


In a report released today, Jennifer Swanson Lowe from UBS maintained a Hold rating on New Relic Inc (NEWR), with a price target of $62. The company’s shares closed last Monday at $58.17, close to its 52-week low of $50.

According to TipRanks.com, Lowe is a 4-star analyst with an average return of 12.4% and a 60.3% success rate. Lowe covers the Technology sector, focusing on stocks such as Salesforce.com, Dynatrace Inc, and Oracle Corp.

Currently, the analyst consensus on New Relic Inc is a Moderate Buy with an average price target of $81.62.

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Based on New Relic Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $15.17 million. In comparison, last year the company had a GAAP net loss of $5.62 million.

Based on the recent corporate insider activity of 109 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NEWR in relation to earlier this year.

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 cloud-based instrumentation and analytics platform that enables users to collect, store, and analyze massive amounts of data in real time. It offers New Relic APM, MOBILE, SYNTHETICS, INFRASTRUCTURE, and INSIGHTS. The company was founded by Lewis Cirne in September 2007 and is headquartered in San Francisco, CA.

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