Analysts Expect New Relic Inc (NEWR) Will Post Earnings of $0.05 Per Share

Equities research analysts expect New Relic Inc (NYSE:NEWR) to post earnings of $0.05 per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for New Relic’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.08. New Relic posted earnings of $0.09 per share in the same quarter last year, which would indicate a negative year over year growth rate of 44.4%. The business is expected to issue its next earnings results on Tuesday, May 14th.

On average, analysts expect that New Relic will report full year earnings of $0.59 per share for the current fiscal year, with EPS estimates ranging from $0.48 to $0.62. For the next financial year, analysts forecast that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.76 to $0.99. Zacks’ EPS averages are an average based on a survey of research analysts that follow New Relic.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Wednesday, February 6th. The software maker reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The firm had revenue of $124.00 million during the quarter, compared to the consensus estimate of $120.18 million. During the same period in the prior year, the company earned $0.05 EPS. The firm’s revenue was up 35.1% compared to the same quarter last year.

Several research firms recently commented on NEWR. JPMorgan Chase & Co. raised New Relic from a “neutral” rating to an “overweight” rating in a research note on Thursday, December 13th. Zacks Investment Research upgraded New Relic from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a report on Tuesday, February 12th. Oppenheimer upped their target price on New Relic from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 7th. Deutsche Bank upped their target price on New Relic to $120.00 and gave the company a “buy” rating in a report on Thursday, February 7th. Finally, BMO Capital Markets dropped their target price on New Relic from $117.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, November 7th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $111.93.

NYSE NEWR traded down $2.62 during mid-day trading on Wednesday, hitting $102.83. The stock had a trading volume of 527,422 shares, compared to its average volume of 749,751. New Relic has a twelve month low of $68.89 and a twelve month high of $114.78. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market cap of $6.05 billion, a P/E ratio of -138.96 and a beta of 1.05.

In other news, CEO Lewis Cirne sold 89,000 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $84.76, for a total transaction of $7,543,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Erica Schultz sold 382 shares of the stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $75.16, for a total value of $28,711.12. Following the transaction, the executive now owns 23,881 shares of the company’s stock, valued at $1,794,895.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,884 shares of company stock valued at $22,111,601. 20.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEWR. Dimensional Fund Advisors LP grew its stake in shares of New Relic by 723.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 75,364 shares of the software maker’s stock valued at $7,581,000 after purchasing an additional 66,208 shares during the last quarter. Raymond James & Associates raised its position in New Relic by 75.2% in the second quarter. Raymond James & Associates now owns 6,339 shares of the software maker’s stock worth $638,000 after acquiring an additional 2,721 shares during the period. California Public Employees Retirement System raised its position in New Relic by 55.0% in the second quarter. California Public Employees Retirement System now owns 46,455 shares of the software maker’s stock worth $4,673,000 after acquiring an additional 16,493 shares during the period. United Services Automobile Association raised its position in New Relic by 10.9% in the second quarter. United Services Automobile Association now owns 31,603 shares of the software maker’s stock worth $3,179,000 after acquiring an additional 3,100 shares during the period. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in New Relic in the third quarter worth about $471,000. Institutional investors and hedge funds own 78.85% of the company’s stock.

New Relic Company Profile

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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