New Relic, Inc. (NYSE:NEWR) Expected to Post Earnings of -$0.13 Per Share

Wall Street analysts expect New Relic, Inc. (NYSE:NEWR) to post ($0.13) earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for New Relic’s earnings. The highest EPS estimate is ($0.13) and the lowest is ($0.14). New Relic posted earnings of ($0.07) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 85.7%. The firm is scheduled to issue its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that New Relic will report full year earnings of ($0.51) per share for the current fiscal year, with EPS estimates ranging from ($0.52) to ($0.50). For the next financial year, analysts expect that the firm will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.39) to $0.12. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover New Relic.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, August 3rd. The software maker reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.60. The business had revenue of $180.48 million for the quarter, compared to the consensus estimate of $172.74 million. New Relic had a negative net margin of 35.19% and a negative return on equity of 54.44%.

Several research firms have recently weighed in on NEWR. Morgan Stanley lifted their target price on shares of New Relic from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 5th. Zacks Investment Research downgraded shares of New Relic from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. BMO Capital Markets lifted their target price on shares of New Relic from $58.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of New Relic in a research report on Tuesday, August 24th. Finally, Loop Capital boosted their price objective on shares of New Relic from $55.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, August 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.43.

Shares of New Relic stock traded down $0.02 during trading on Tuesday, hitting $76.41. The stock had a trading volume of 276,960 shares, compared to its average volume of 667,770. The stock has a 50 day simple moving average of $74.13 and a 200 day simple moving average of $67.12. The company has a market capitalization of $4.96 billion, a PE ratio of -19.64 and a beta of 0.86. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.42. New Relic has a 1 year low of $51.52 and a 1 year high of $82.76.

In other news, COO Kristy Friedrichs sold 2,915 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $76.73, for a total value of $223,667.95. Following the completion of the sale, the chief operating officer now directly owns 4,849 shares in the company, valued at $372,063.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Lewis Cirne sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $80.01, for a total transaction of $2,400,300.00. Following the completion of the sale, the chairman now owns 30,000 shares of the company’s stock, valued at $2,400,300. The disclosure for this sale can be found here. Insiders sold 70,463 shares of company stock valued at $5,440,829 over the last three months. Insiders own 22.00% of the company’s stock.

Several institutional investors have recently modified their holdings of NEWR. Wealthcare Advisory Partners LLC acquired a new position in New Relic during the 1st quarter valued at $25,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in New Relic during the 2nd quarter valued at $37,000. Baillie Gifford & Co. raised its stake in New Relic by 356.5% during the 1st quarter. Baillie Gifford & Co. now owns 840 shares of the software maker’s stock valued at $52,000 after purchasing an additional 656 shares during the last quarter. US Bancorp DE raised its stake in New Relic by 66.4% during the 2nd quarter. US Bancorp DE now owns 1,434 shares of the software maker’s stock valued at $96,000 after purchasing an additional 572 shares during the last quarter. Finally, First Mercantile Trust Co. raised its stake in New Relic by 41.2% during the 1st quarter. First Mercantile Trust Co. now owns 1,603 shares of the software maker’s stock valued at $99,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

New Relic Company Profile

New Relic, Inc, engages in the provision software solutions. It delivers an open and extensible cloud-based platform that enables organizations to collect, store and analyze massive amounts of data in real time to better operate applications and infrastructure. It offers solutions to e-commerce and retail, media, and public sector industries.

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Earnings History and Estimates for New Relic (NYSE:NEWR)

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