New Relic Inc. (NYSE:NEWR) shares, rose in value on Friday, 03/11/22, with the stock price down by -5.36% to the previous day’s close as strong demand from buyers drove the stock to $58.48.
Actively observing the price movement in the last trading, the stock closed the session at $61.79, falling within a range of $58.47 and $62.155. The value of beta (5-year monthly) was 0.88. Referring to stock’s 52-week performance, its high was $129.70, and the low was $51.52. On the whole, NEWR has fluctuated by -25.25% over the past month.
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With the market capitalization of New Relic Inc. currently standing at about $4.05 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 02, 2022 – Feb 07, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.15, which is expected to increase to $0.19 for fiscal year -$0.54 and then to about $0.06 by fiscal year 2023. Data indicates that the EPS growth is expected to be -63.60% in 2023, while the next year’s EPS growth is forecast to be 111.10%.
Analysts have estimated the company’s revenue for the quarter at $200.49 million, with a low estimate of $199.1 million and a high estimate of $201.56 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $780.84 million, representing an increase of 17.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NEWR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NEWR currently trading nearly -11.59% and -34.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 27.39, while the 7-day volatility ratio is showing 4.71% which for the 30-day chart, stands at 5.29%. Furthermore, New Relic Inc. (NEWR)’s beta value is 1.02, and its average true range (ATR) is 4.42.
A comparison of New Relic Inc. (NEWR) with its peers suggests the former has fared considerably weaker in the market. NEWR showed an intraday change of -5.36% in last session, and over the past year, it shrunk by -5.68%%. In comparison, SS&C Technologies Holdings Inc. (SSNC) has moved higher at 0.25% on the day and was up 9.57% over the past 12 months. On the other hand, the price of SPS Commerce Inc. (SPSC) has fallen -4.30% on the day. The stock, however, is off 14.67% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -1.30%. Meanwhile, the Dow Jones Industrial Slipped by -0.69%.
Data on historical trading for New Relic Inc. (NYSE:NEWR) indicates that the trading volumes over the past 3 months, they’ve averaged 1.09 million. According to company’s latest data on outstanding shares, there are 64.98 million shares outstanding.
Nearly 0.10% of New Relic Inc.’s shares belong to company insiders and institutional investors own 89.10% of the company’s shares. The stock has fallen by -46.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NEWR stock heading into the next quarter.
