$0.05 EPS Expected for New Relic (NEWR) This Quarter

Analysts expect that New Relic (NYSE:NEWR) will announce $0.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for New Relic’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.06. New Relic posted earnings per share of ($0.11) in the same quarter last year, which indicates a positive year-over-year growth rate of 145.5%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, May 8th.

According to Zacks, analysts expect that New Relic will report full-year earnings of ($0.05) per share for the current financial year, with EPS estimates ranging from ($0.05) to ($0.04). For the next financial year, analysts expect that the firm will report earnings of $0.23 per share, with EPS estimates ranging from $0.07 to $0.32. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for New Relic.

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New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The company had revenue of $91.83 million for the quarter, compared to analyst estimates of $89.31 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The firm’s revenue was up 34.8% compared to the same quarter last year.



NEWR has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of New Relic in a report on Friday, January 12th. They issued a “market perform” rating and a $68.00 target price on the stock. Stephens upped their target price on shares of New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Robert W. Baird upped their target price on shares of New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Needham & Company LLC upped their target price on shares of New Relic from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Oppenheimer upped their target price on shares of New Relic from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. New Relic presently has a consensus rating of “Buy” and a consensus price target of $66.57.

In other news, CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $57.86, for a total transaction of $289,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lewis Cirne sold 89,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $72.94, for a total transaction of $6,491,660.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 347,802 shares of company stock valued at $24,204,523. Company insiders own 23.10% of the company’s stock.

Several hedge funds have recently modified their holdings of NEWR. Crow Point Partners LLC purchased a new stake in shares of New Relic during the 4th quarter worth approximately $113,000. Woodstock Corp purchased a new stake in shares of New Relic during the 4th quarter worth approximately $212,000. Xact Kapitalforvaltning AB purchased a new stake in shares of New Relic during the 4th quarter worth approximately $233,000. Amalgamated Bank purchased a new stake in shares of New Relic during the 4th quarter worth approximately $240,000. Finally, Granahan Investment Management Inc. MA purchased a new stake in shares of New Relic during the 3rd quarter worth approximately $269,000. Institutional investors own 75.78% of the company’s stock.

Shares of NEWR traded up $0.24 on Friday, reaching $75.19. The company’s stock had a trading volume of 777,623 shares, compared to its average volume of 495,949. New Relic has a twelve month low of $39.00 and a twelve month high of $79.08. The firm has a market capitalization of $4,043.89, a PE ratio of -68.35 and a beta of 0.64.

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New Relic Company Profile

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

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