New Relic Inc (NYSE:NEWR) Buy Rating Reiterated Today By Cowen & Co.; The PT is Set to $62.0

March 14, 2018 - By Louis Casey

 New Relic Inc (NYSE:NEWR) Buy Rating Reiterated Today By Cowen & Co.; The PT is Set to $62.0

New Relic Inc (NYSE:NEWR) Rating Reaffirmed

In an analyst note issued to clients and investors on 29 November, The Buy rating of New Relic Inc (NYSE:NEWR) shares was maintained by Cowen & Co., who now has a $62.0 target on the stock. Cowen & Co.’s target means a possible downside of -17.72 % from the previous close of the company.

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 has $86 highest and $30 lowest target. $56.78’s average target is -24.64% below currents $75.35 stock price. New Relic Inc had 42 analyst reports since August 7, 2015 according to SRatingsIntel. On Friday, June 24 the stock rating was initiated by Cowen & Co with “Outperform”. On Tuesday, December 12 the stock rating was downgraded by J.P. Morgan to “Hold”. The firm earned “Buy” rating on Tuesday, February 6 by Robert W. Baird. Pacific Crest initiated it with “Overweight” rating and $47 target in Monday, September 21 report. Cowen & Co maintained the shares of NEWR in report on Wednesday, November 29 with “Buy” rating. The stock of New Relic, Inc. (NYSE:NEWR) earned “Buy” rating by Guggenheim on Wednesday, February 7. As per Friday, August 4, the company rating was downgraded by First Analysis. The company was maintained on Thursday, August 10 by Oppenheimer. As per Friday, August 4, the company rating was maintained by Cowen & Co. The rating was initiated by Needham with “Buy” on Monday, October 23.

The stock increased 3.45% or $2.51 during the last trading session, reaching $75.35. About 494,360 shares traded. New Relic, Inc. (NYSE:NEWR) has risen 65.48% since March 14, 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., a software-as-a-service company, provides digital intelligence products worldwide. The company has market cap of $4.18 billion. The companyÂ’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.

More news for New Relic, Inc. (NYSE:NEWR) were recently published by:, which released: “New Relic Inc (NEWR) CEO Lewis Cirne Sold $5 million of Shares” on February 14, 2018.‘s article titled: “New Relic Inc (NEWR) CEO Lewis Cirne Sold $6.5 million of Shares” and published on March 05, 2018 is yet another important article.

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