Wall Street analysts expect that New Relic Inc (NYSE:NEWR) will announce sales of $96.33 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for New Relic’s earnings. The lowest sales estimate is $95.78 million and the highest is $97.50 million. New Relic posted sales of $73.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 31.3%. The business is scheduled to issue its next earnings report on Tuesday, May 8th.
On average, analysts expect that New Relic will report full-year sales of $96.33 million for the current fiscal year, with estimates ranging from $343.00 million to $354.10 million. For the next financial year, analysts anticipate that the company will post sales of $448.91 million per share, with estimates ranging from $441.27 million to $457.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover New Relic.
New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $89.31 million. During the same period last year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 34.8% on a year-over-year basis.
Several research analysts have recently commented on NEWR shares. BMO Capital Markets started coverage on shares of New Relic in a report on Friday, January 12th. They set a “market perform” rating and a $68.00 target price on the stock. Stephens raised 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. Wedbush assumed coverage on shares of New Relic in a report on Friday, February 23rd. They set an “outperform” rating and a $86.00 target price on the stock. JPMorgan Chase & Co. lowered shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Tuesday, December 12th. Finally, Zacks Investment Research upgraded shares of New Relic from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, March 8th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $63.71.
Shares of New Relic (NYSE:NEWR) traded down $0.06 on Friday, hitting $75.75. 505,097 shares of the stock traded hands, compared to its average volume of 505,823. New Relic has a 12 month low of $34.61 and a 12 month high of $76.54. The company has a market capitalization of $4,177.50, a PE ratio of -76.51 and a beta of 0.67.
In related news, VP Robin Schulman sold 1,991 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $58.97, for a total transaction of $117,409.27. Following the sale, the vice president now owns 1,365 shares in the company, valued at approximately $80,494.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James R. Gochee sold 428 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $59.10, for a total transaction of $25,294.80. Following the sale, the insider now owns 337,904 shares in the company, valued at approximately $19,970,126.40. The disclosure for this sale can be found here. Insiders have sold a total of 317,916 shares of company stock worth $21,144,295 in the last quarter. 23.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. American International Group Inc. boosted its position in New Relic by 4.8% in the fourth quarter. American International Group Inc. now owns 20,601 shares of the software maker’s stock valued at $1,190,000 after buying an additional 945 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in New Relic by 12.4% in the fourth quarter. Essex Investment Management Co. LLC now owns 11,279 shares of the software maker’s stock valued at $652,000 after buying an additional 1,248 shares in the last quarter. Teachers Advisors LLC boosted its position in New Relic by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 76,201 shares of the software maker’s stock valued at $4,402,000 after buying an additional 1,427 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in New Relic by 7.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 21,152 shares of the software maker’s stock valued at $1,222,000 after buying an additional 1,516 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in New Relic by 3.9% in the third quarter. Macquarie Group Ltd. now owns 42,696 shares of the software maker’s stock valued at $2,126,000 after buying an additional 1,587 shares in the last quarter. Hedge funds and other institutional investors own 75.76% 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.
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