Cowen & Company Initiates Coverage on New Relic Inc(NYSE:NEWR). The shares have been rated Outperform. The rating by Cowen & Company was issued on Jun 24, 2016.
New Relic Inc (NEWR) made into the market gainers list on Wednesdays trading session with the shares advancing 3.19% or 0.91 points. Due to strong positive momentum, the stock ended at $29.4, which is also near the day’s high of $29.47. The stock began the session at $28.85 and the volume stood at 3,03,480 shares. The 52-week high of the shares is $40.13 and the 52 week low is $20.385. The company has a current market capitalization of $1,472 M and it has 5,00,60,926 shares in outstanding.
New Relic Inc(NEWR) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $52.49M. Analysts had an estimated revenue of $50.71M. Earnings per share were $-0.24. Analysts had estimated an EPS of $-0.24.
Several Insider Transactions has been reported to the SEC. On Jun 20, 2016, Mark Sachleben (Chief Financial Officer) sold 4,870 shares at $29.66 per share price.Also, On Jun 17, 2016, J William Gurley (10% owner) sold 74,649 shares at $29.99 per share price.On Jun 17, 2016, Robin Schulman (VP, General Counsel /Secretary) sold 199 shares at $29.86 per share price, according to the Form-4 filing with the securities and exchange commission.
New Relic Inc. (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enables organizations to collect store and analyze software data in real time. The Company’s Software Analytics solution consists of an integrated suite of products a data database and an open platform. Its products for technology users focus on software performance management and monitoring. New Relic offers an integrated suite of seven products namely New Relic APM for application performance management; New Relic Mobile mobile application performance management; New Relic Servers for server monitoring for cloud and data centers; New Relic Browser for end user experience monitoring and performance monitoring; New Relic Synthetics for software testing through simulated usage; New Relic Plugins plugins to extend its functionality into other applications and New Relic Insights for real-time big data analytics for business managers.