Deutsche Bank Covers New Relic (NEWR) with $125 Target; BIONOVATE TECHNOLOGIES (BIIO) Shorts Increased By 300%

June 25, 2018 - By John Hoffman

New Relic, Inc. (NYSE:NEWR) Logo

New York: New Relic (NYSE:NEWR) coverage was was started with a Buy rating and $125 price target at Deutsche Bank. Deutsche Bank’s PT means upside of 20.35% from the company’s last stock price.

BIONOVATE TECHNOLOGIES CORP (OTCMKTS:BIIO) had an increase of 300% in short interest. BIIO’s SI was 400 shares in June as released by FINRA. Its up 300% from 100 shares previously. With 700 avg volume, 1 days are for BIONOVATE TECHNOLOGIES CORP (OTCMKTS:BIIO)’s short sellers to cover BIIO’s short positions. The stock decreased 9.68% or $0.06 during the last trading session, reaching $0.56. About shares traded. Bionovate Technologies Corp. (OTCMKTS:BIIO) has 0.00% since June 25, 2017 and is . It has underperformed by 12.57% the S&P500.

Bionovate Technologies Corp., a development stage company, engages in the sale and distribution of LED lighting and technology solutions in North American market. The company has market cap of $145,264. The company's LED lighting products consist of LED Par series bulb, a replacement bulb for traditional Par 30/38 lamps; LED Down Light series, a lighting fixture with bulb and installation housing; and LED tube series products to replace fluorescent lamps and fit into existing light fixtures. It has a 0.05 P/E ratio. It sells its products to end users, including municipalities, airports, railway lines, hospitals, post-secondary institutions, and large property owners; wholesalers; contractors; and retailers.

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 $12100 highest and $30 lowest target. $70.83’s average target is -31.80% below currents $103.86 stock price. New Relic Inc had 54 analyst reports since August 7, 2015 according to SRatingsIntel. The company was upgraded on Wednesday, May 9 by BMO Capital Markets. The firm has “Buy” rating given on Monday, April 2 by Needham. The firm has “Neutral” rating given on Friday, December 11 by Goldman Sachs. DA Davidson upgraded New Relic, Inc. (NYSE:NEWR) on Wednesday, August 12 to “Buy” rating. As per Wednesday, February 7, the company rating was maintained by Guggenheim. As per Friday, August 4, the company rating was downgraded by First Analysis. Stephens maintained it with “Buy” rating and $70.0 target in Wednesday, February 7 report. The firm earned “Buy” rating on Tuesday, December 15 by Guggenheim. UBS maintained the stock with “Neutral” rating in Thursday, November 9 report. The stock of New Relic, Inc. (NYSE:NEWR) has “Equal-Weight” rating given on Wednesday, May 9 by Morgan Stanley.

The stock decreased 1.68% or $1.77 during the last trading session, reaching $103.86. About 2.93 million shares traded or 269.23% up from the average. New Relic, Inc. (NYSE:NEWR) has risen 119.57% since June 25, 2017 and is uptrending. It has outperformed by 107.00% the S&P500. Some Historical NEWR News: 08/05/2018 – New Relic 4Q Rev $98.4M; 08/05/2018 – New Relic Sees 1Q Adj EPS 10c-Adj EPS 12c; 09/05/2018 – NEW RELIC INC NEWR.N : MORGAN STANLEY RAISES TARGET PRICE TO $67 FROM $61; 08/05/2018 – New Relic Sees FY19 Adj EPS 29c-Adj EPS 37c; 02/05/2018 – New Relic Names Hope Cochran to Board; 08/05/2018 – NEW RELIC 4Q REV. $98.4M, EST. $96.3M; 09/05/2018 – NEW RELIC INC NEWR.N : COWEN AND COMPANY RAISES TARGET PRICE TO $84 FROM $74; 21/04/2018 – DJ New Relic Inc, Inst Holders, 1Q 2018 (NEWR); 02/05/2018 – New Relic Appoints Hope Cochran to Its Bd of Directors; 16/05/2018 – New Relic: Net Proceeds From Offering Will Be Approximately $423.7 Million

Analysts await New Relic, Inc. (NYSE:NEWR) to report earnings on August, 2. They expect $-0.12 earnings per share, up 55.56% or $0.15 from last year’s $-0.27 per share. After $-0.10 actual earnings per share reported by New Relic, Inc. for the previous quarter, Wall Street now forecasts 20.00% negative EPS growth.

More news for New Relic, Inc. (NYSE:NEWR) were recently published by: Seekingalpha.com, which released: “New Relic Needs To Cool Off” on June 18, 2018. Benzinga.com‘s article titled: “KeyBanc Sees Positive Long-Term Story In New Relic, But Says Shares Are Fully Valued” and published on June 06, 2018 is yet another important article.

New Relic, Inc. (NYSE:NEWR) Ratings Chart