During the last session, New Relic Inc. (NYSE:NEWR)’s traded shares were 0.49 million, with the beta value of the company hitting 0.98. At the end of the trading day, the stock’s price was $111.83, reflecting an intraday gain of 1.40% or $1.54. The 52-week high for the NEWR share is $129.70, that puts it down -15.98 from that peak though still a striking 53.93% gain since the share price plummeted to a 52-week low of $51.52. The company’s market capitalization is $7.32B, and the average trade volume was 670.56K shares over the past three months.
New Relic Inc. (NEWR) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.70. NEWR has a Sell rating from 0 analyst(s) out of 14 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.13.
New Relic Inc. (NYSE:NEWR) trade information
New Relic Inc. (NEWR) registered a 1.40% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.40% in intraday trading to $111.83 this Wednesday, 11/24/21, hitting a weekly high. The stock’s 5-day price performance is -6.68%, and it has moved by 43.56% in 30 days. Based on these gigs, the overall price performance for the year is 99.63%.
The consensus price target of analysts on Wall Street is $123.40, which implies an increase of 9.38% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $107.00 and $150.00 respectively. As a result, NEWR is trading at a discount of -34.13% off the target high and 4.32% off the low.
New Relic Inc. (NEWR) estimates and forecasts
Statistics show that New Relic Inc. has underperformed its competitors in share price, compared to the industry in which it operates. New Relic Inc. (NEWR) shares have gone up 78.27% during the last six months, with a year-to-date growth rate less than the industry average at -48.48% against 0.90. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to shrink -85.70% this quarter and then jump 35.70% in the quarter after that. In the rating firms’ projections, revenue will increase 9.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $182.21 million as predicted by 10 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $183.32 million by the end of Dec 2021.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -17.70%. While earnings are projected to return -107.80% in 2021, the next five years will return 15.00% per annum.
New Relic Inc. is due to release its next quarterly earnings between February 02 and February 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
New Relic Inc. (NYSE:NEWR)’s Major holders
New Relic Inc. insiders own 12.58% of total outstanding shares while institutional holders control 92.70%, with the float percentage being 106.04%. HMI Capital Management, LP is the largest shareholder of the company, while 300 institutions own stock in it. As of Mar 30, 2021, the company held over 5.26 million shares (or 8.13% of all shares), a total value of $323.32 million in shares.
The next largest institutional holding, with 5.19 million shares, is of Eminence Capital, LP’s that is approximately 8.01% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $318.79 million.
Also, the Mutual Funds coming in first place with the largest holdings of New Relic Inc. (NEWR) shares are Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund. Data provided on Apr 29, 2021 indicates that Vanguard Explorer Fund, Inc. owns about 2.13 million shares. This amounts to just over 3.29 percent of the company’s overall shares, with a $136.92 million market value. The same data shows that the other fund manager holds slightly less at 1.6 million, or about 2.48% of the stock, which is worth about $98.63 million.