New Relic Inc (NEWR) Expected to Announce Earnings of -$0.08 Per Share

Equities research analysts expect New Relic Inc (NYSE:NEWR) to report earnings of ($0.28) per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for New Relic’s earnings, with estimates ranging from ($0.08) to ($0.07). New Relic posted earnings of ($0.09) per share during the same quarter last year, which indicates a negative year over year growth rate of 211.1%. The firm is expected to report its next earnings report after the market closes on Tuesday, February 6th.

On average, analysts expect that New Relic will report full year earnings of ($0.22) per share for the current year, with EPS estimates ranging from ($0.23) to ($0.21). For the next year, analysts expect that the company will post earnings of $0.23 per share, with EPS estimates ranging from $0.14 to $0.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $84.68 million for the quarter, compared to analysts’ expectations of $82.98 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share.

Several research analysts have issued reports on the company. BMO Capital Markets assumed coverage on New Relic in a research report on Friday, January 12th. They issued a “market perform” rating and a $68.00 target price on the stock. UBS Group assumed coverage on New Relic in a research report on Thursday, November 9th. They issued a “neutral” rating and a $53.00 target price on the stock. JMP Securities raised their target price on New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 8th. KeyCorp reissued an “overweight” rating and issued a $57.00 target price (up from $52.00) on shares of New Relic in a research report on Wednesday, November 8th. Finally, Morgan Stanley raised their target price on New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 8th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $55.21.

New Relic (NYSE:NEWR) opened at $57.93 on Thursday. The stock has a market capitalization of $3,190.00, a PE ratio of -52.19 and a beta of 1.03. New Relic has a 12-month low of $31.39 and a 12-month high of $60.97.

In related news, VP Robin Schulman sold 1,797 shares of New Relic stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $54.44, for a total transaction of $97,828.68. Following the sale, the vice president now owns 1,107 shares of the company’s stock, valued at approximately $60,265.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Sachleben sold 5,000 shares of New Relic stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $52.40, for a total value of $262,000.00. The disclosure for this sale can be found here. Insiders sold 178,139 shares of company stock worth $9,968,335 in the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Crow Point Partners LLC bought a new stake in New Relic during the 4th quarter valued at approximately $113,000. Ameritas Investment Partners Inc. raised its stake in New Relic by 50.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after purchasing an additional 862 shares during the period. ETF Managers Group LLC bought a new stake in New Relic during the 2nd quarter valued at approximately $118,000. BNP Paribas Arbitrage SA raised its stake in New Relic by 507.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after purchasing an additional 3,185 shares during the period. Finally, Cipher Capital LP bought a new stake in New Relic during the 3rd quarter valued at approximately $212,000. 77.08% of the stock is currently owned by institutional investors.

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About New Relic

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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