New Relic (NEWR) Set to Announce Quarterly Earnings on Monday

New Relic (NYSE:NEWR) will announce its earnings results after the market closes on Monday, February 5th.

New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The business had revenue of $84.68 million during the quarter, compared to the consensus estimate of $82.98 million. New Relic had a negative return on equity of 30.33% and a negative net margin of 17.35%. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. On average, analysts expect New Relic to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of New Relic (NYSE:NEWR) opened at $61.94 on Monday. The firm has a market capitalization of $3,285.02, a P/E ratio of -55.30 and a beta of 1.03. New Relic has a 1-year low of $33.10 and a 1-year high of $62.15.

A number of equities research analysts have weighed in on NEWR shares. Needham & Company LLC started coverage on New Relic in a report on Monday, October 23rd. They issued a “buy” rating and a $69.00 target price for the company. Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. JPMorgan Chase & Co. downgraded New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 target price for the company. in a report on Tuesday, December 12th. BidaskClub downgraded New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley lifted their target price on New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.21.

In related news, CFO Mark Sachleben sold 5,000 shares of New Relic stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $59.35, for a total transaction of $296,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James R. Gochee sold 428 shares of New Relic stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $59.10, for a total value of $25,294.80. Following the transaction, the insider now directly owns 337,904 shares in the company, valued at approximately $19,970,126.40. The disclosure for this sale can be found here. Insiders sold 178,139 shares of company stock valued at $9,995,635 in the last three months. Insiders own 23.10% of the company’s stock.

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New Relic Company Profile

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.

Earnings History for New Relic (NYSE:NEWR)

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