New Relic Inc (NYSE:NEWR): Cowen & Co. Maintains “Buy” Rating Today, Has a Target of $62.0/Share

March 14, 2018 - By Marguerite Chambers

 New Relic Inc (NYSE:NEWR): Cowen & Co. Maintains

New Relic Inc (NYSE:NEWR) Rating Reaffirmed

The company has just set a target of $62.0 on New Relic Inc (NYSE:NEWR) shares. This is -17.72 % from the last stock close price. In a note sent to investors and clients on Wednesday morning, Cowen & Co. reaffirmed their “Buy” rating on shares of NEWR.

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. UBS maintained New Relic, Inc. (NYSE:NEWR) on Friday, August 4 with “Neutral” rating. Robert W. Baird maintained the shares of NEWR in report on Thursday, January 4 with “Buy” rating. Morgan Stanley upgraded New Relic, Inc. (NYSE:NEWR) on Thursday, September 10 to “Overweight” rating. The firm earned “Outperform” rating on Thursday, September 10 by Oppenheimer. As per Thursday, July 20, the company rating was downgraded by Morgan Stanley. BMO Capital Markets maintained it with “Hold” rating and $71.0 target in Wednesday, February 7 report. The rating was maintained by Cowen & Co with “Buy” on Friday, August 4. The stock of New Relic, Inc. (NYSE:NEWR) has “Outperform” rating given on Friday, June 24 by Cowen & Co. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, November 8. The rating was maintained by UBS on Thursday, November 9 with “Neutral”.

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 EPS, up 42.31 % or $0.11 from last year’s $-0.26 per share. After $-0.13 actual EPS 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.