2 Stocks That Are Just Getting Started: New Relic, Inc. (NEWR), FedEx Corporation (FDX)

The shares of New Relic, Inc. (NYSE:NEWR) has been pegged with a rating of Buy by Argus in its latest research note that was published on August 12th, 2019. The research company has also assigned a $93 price target. Argus wasn’t the only research firm that published a report of New Relic, Inc., with other equities research analysts also giving their opinion on the stock. Wedbush advised investors in its research note published on August 7th, 2019, to Outperform the NEWR stock while also putting a $99 price target. The stock had earned Mkt Perform rating from Raymond James when it published its report on August 7th, 2019. The stock was given Neutral rating by First Analysis Sec in its report released on August 7th, 2019. BMO Capital Markets was of a view that NEWR is Outperform in its latest report on July 16th, 2019 while giving it a price target of $115. Goldman thinks that NEWR is worth Sell rating. This was contained in the firm’s report on June 7th, 2019 in which the stock’s price target was also moved to $83.

Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 4 believe it has the potential for further growth, thus rating it as Hold while 6 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $92.54. The price of the stock the last time has raised by 11.28% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 23.42.

The shares of the company dipped by -2.18% during the trading session on Tuesday, reaching a low of $61.65 while ending the day at $61.87. During the trading session, a total of 2.12 million shares were traded which represents a -66.84% decline from the average session volume which is 1.27M shares. NEWR had ended its last session trading at 63.25. New Relic, Inc. currently has a market cap of $3.66B while its P/E earnings growth sits at 7.65, with a beta of 0.92. New Relic, Inc. debt-to-equity ratio currently stands at 1.14, while its quick ratio hovers at 2.90. NEWR 52-week low price stands at $55.60 while its 52-week high price is $113.34.

The company in its last quarterly report recorded $0.19 earnings per share which is above the $0.09 predicted by most analysts. The New Relic, Inc. generated $141.01 million in revenue during the last quarter, which is slightly higher than the $139.55 million predicted by analysts. In the second quarter last year, the firm recorded $0.13 earnings per share. Compared to the same quarter last year, the firm’s revenue was up by 31.58%. New Relic, Inc. has the potential to record -0.72 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Goldman published a research note on July 10th, 2019 where it informed investors and clients that FedEx Corporation (NYSE:FDX) is now rated as Buy. Their price target on the stock stands at $200. Wedbush also rated FDX as Reiterated on August 7th, 2019, with its price target of $99 suggesting that FDX could surge by 14.54% from its current share price. Even though the stock has been trading at $158.81/share, analysts expect it to surge higher by 1.08% to reach $187.84/share. It started the day trading at $163.60 and traded between $157.32 and $160.52 throughout the trading session.

A look at its technical shows that FDX’s 50-day SMA is 164.19 while its 200-day SMA stands at 180.96. The stock has a high of $259.25 for the year while the low is $150.68. The company’s P/E ratio currently sits at 133.32, while the P/B ratio is 2.37. At the moment, only of FedEx Corporation shares were sold short. The company’s average trading volume currently stands at 2.29M shares, which means that the short-interest ratio is just 2.00 days. Over the past seven days, the company moved, with its shift of -0.42%. Looking further, the stock has dropped -6.60% over the past 90 days while it lost -13.44% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. Dodge Cox bought more FDX shares, increasing its portfolio by +22.38% during the last quarter. This move now sees Dodge Cox purchasing 3,568,101 shares in the last quarter, thus it now holds 19,513,279 shares of FDX, with a total valuation of $3,327,599,468. The Vanguard Group Inc meanwhile sold more FDX shares in the recently filed quarter, changing its stake to $3,304,500,668 worth of shares. PRIMECAP Management Co followed the path by decreasing its FDX portfolio by -0.07% in the quarter. This means that PRIMECAP Management Co sold -9,912 shares in the last quarter and now controls 15,050,770 shares of the FDX stock, with the valuation hitting $2,566,607,808.

Similarly, SSgA Funds Management Inc increased its FedEx Corporation shares by +2.93% during the recently filed quarter. After buying 286,384 shares in the last quarter, the firm now controls 10,060,982 shares of FedEx Corporation which are valued at $1,715,699,260. In the same vein, Canada Pension Plan Investment Bo increased its FedEx Corporation shares by during the most recent reported quarter. The firm bought 106,871 shares during the quarter which increased its stakes to 3,620,516 shares and is now valued at $617,406,593. Following these latest developments, around 5.80% of FedEx Corporation stocks are owned by institutional investors and hedge funds.