The trading price of New Relic, Inc. (NYSE:NEWR) closed higher on Tuesday, Jan 12, closing at $73.98, 3.85% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $73.61 and $77.74. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0.91. In examining the 52-week price action we see that the stock hit a 52-week high of $77.54 and a 52-week low of $33.49. Over the past month, the stock has gained 18.35% in value.

New Relic, Inc., whose market valuation is $4.15 Billion at the time of this writing, is expected to release its quarterly earnings report on February 04, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.14 per share this quarter, however they have predicted annual earnings per share of -$0.19 for 2021 and $0.08 for 2022. It means analysts are expecting annual earnings per share growth of -1.29% this year and -1.42% next year.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of New Relic, Inc. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NEWR has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned NEWR a recommendation rating is 18. Out of them, 7 rate it a Hold, while 7 recommend Buy, whereas 1 assign an Outperform rating. None analyst(s) have tagged New Relic, Inc. (NEWR) as Underperform, while 3 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that NEWR’s price is currently 15.17% off the SMA20 and 23.68% off the SMA50. The RSI metric on the 14-day chart is currently showing 70.41, and weekly volatility stands at 5.22%. When measured over the past 30 days, the indicator reaches 3.51%. New Relic, Inc. (NYSE:NEWR)’s beta value is currently sitting at 0.91, while the Average True Range indicator is currently displaying 2.97. With analysts defining $52-$90 as the low and high price targets, we arrive at a consensus price target of $71.73 for the trailing 12-month period. The current price is about -32.32% off the estimated low and 17.14% off the forecast high, based on this estimate. Investors will be thrilled if NEWR’s share price rises to $72, which is the median consensus price. At that level, NEWR’s share price would be -6.29% above current price.

To see how New Relic, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: NEWR stock’s performance was +3.85% in the latest trading, and +10.82% in the past year, while Paypal Holdings (PYPL) has traded +0.06% on the day and positioned +106.14% higher than it was a year ago. Another comparable company Square (SQ) saw its stock close 0.9% higher in the most recent trading session but was up +231.37% in a year. Furthermore, Zoom Video Communications Cl A (ZM) showed an increase of 3.85% on the day while its price kept rising at 10.82% over the past year. New Relic, Inc. has a P/E ratio of 0, compared to Paypal Holdings 89.74 and Square’s 491.4. Also in last trading session, the S&P 500 Index has surged 0.04%, while the Dow Jones Industrial also saw a positive session, up +0.19% on the day.

An evaluation of the daily trading volume of New Relic, Inc. (NYSE:NEWR) indicates that the 3-month average is 580.3 Million. However, this figure has increased over the past 10 days to an average of 999.5 Million.

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Currently, records show that 62.6 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 13.8% of outstanding shares, whereas institutions hold 86.69%. The stats also highlight that short interest as of December 14, 2020, stood at 4.04 Million shares, resulting in a short ratio of 8.85 at that time. From this, we can conclude that short interest is 6.62% of the company’s total outstanding shares. It is noteworthy that short shares in December were down slightly from the previous month’s figure, which was 4.48 Million. However, since the stock’s price has seen +17.48% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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