New Relic, Inc. (NYSE:NEWR) Expected to Announce Quarterly Sales of $166.40 Million

Equities research analysts expect New Relic, Inc. (NYSE:NEWR) to report sales of $166.40 million for the current quarter, according to Zacks. Six analysts have issued estimates for New Relic’s earnings, with estimates ranging from $166.00 million to $167.17 million. New Relic reported sales of $159.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The company is expected to issue its next quarterly earnings report on Thursday, May 13th.

According to Zacks, analysts expect that New Relic will report full-year sales of $661.90 million for the current year, with estimates ranging from $661.00 million to $665.00 million. For the next fiscal year, analysts expect that the firm will post sales of $720.27 million, with estimates ranging from $697.80 million to $752.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow New Relic.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Thursday, February 4th. The software maker reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.58. The company had revenue of $166.34 million for the quarter, compared to analyst estimates of $164.81 million. New Relic had a negative net margin of 20.65% and a negative return on equity of 26.93%.

NEWR has been the topic of several analyst reports. Zacks Investment Research upgraded shares of New Relic from a “sell” rating to a “hold” rating in a research report on Tuesday. Loop Capital increased their price objective on shares of New Relic from $60.00 to $70.00 and gave the company a “hold” rating in a report on Friday, February 5th. UBS Group downgraded shares of New Relic from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $89.00 to $76.00 in a report on Friday, February 5th. BMO Capital Markets increased their price objective on shares of New Relic from $64.00 to $71.00 and gave the company a “market perform” rating in a report on Friday, February 5th. Finally, Needham & Company LLC decreased their price objective on shares of New Relic from $82.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, February 5th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. New Relic currently has a consensus rating of “Hold” and an average target price of $69.76.

In other New Relic news, CEO Lewis Cirne sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $63.23, for a total value of $1,896,900.00. Following the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $1,896,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Staples sold 3,894 shares of the business’s stock in a transaction dated Monday, February 15th. The shares were sold at an average price of $64.58, for a total transaction of $251,474.52. Following the completion of the transaction, the insider now owns 11,402 shares in the company, valued at $736,341.16. The disclosure for this sale can be found here. Insiders have sold 68,894 shares of company stock worth $4,235,425 over the last 90 days. 17.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. HMI Capital LLC lifted its stake in New Relic by 23.2% during the third quarter. HMI Capital LLC now owns 3,989,021 shares of the software maker’s stock worth $224,821,000 after purchasing an additional 750,000 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of New Relic by 0.6% during the third quarter. Champlain Investment Partners LLC now owns 3,807,915 shares of the software maker’s stock worth $214,614,000 after buying an additional 23,130 shares during the period. First Trust Advisors LP boosted its position in shares of New Relic by 78.6% during the third quarter. First Trust Advisors LP now owns 832,580 shares of the software maker’s stock worth $46,924,000 after buying an additional 366,380 shares during the period. Archon Capital Management LLC boosted its position in shares of New Relic by 38.5% during the third quarter. Archon Capital Management LLC now owns 732,446 shares of the software maker’s stock worth $41,281,000 after buying an additional 203,700 shares during the period. Finally, Jana Partners LLC purchased a new position in shares of New Relic during the third quarter worth $30,790,000. Institutional investors own 86.04% of the company’s stock.

NEWR stock traded up $0.10 during midday trading on Tuesday, hitting $61.72. 1,034,805 shares of the stock traded hands, compared to its average volume of 909,466. The firm has a market cap of $3.89 billion, a P/E ratio of -27.76 and a beta of 1.01. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.87 and a quick ratio of 2.87. The stock’s fifty day simple moving average is $71.84 and its 200-day simple moving average is $63.04. New Relic has a 1-year low of $33.49 and a 1-year high of $81.10.

New Relic Company Profile

New Relic, Inc, a software-as-a-service company, provides platform that companies use to build, develop, and operate their digital businesses worldwide. It offers a suite of products on its open and extensible cloud-based platform, New Relic One Platform, which enables users to collect, store, and analyze telemetry data flowing through and about their software.

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