New Relic (NEWR) Issues Q3 Earnings Guidance

New Relic (NYSE:NEWR) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.12-0.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.09. The company issued revenue guidance of $118.5-120.5 million, compared to the consensus revenue estimate of $117.77 million.New Relic also updated its FY 2019 guidance to $0.42-0.48 EPS.

NEWR remained flat at $$86.07 during trading on Tuesday. The company had a trading volume of 766,802 shares, compared to its average volume of 881,866. The company has a market cap of $4.92 billion, a P/E ratio of -116.31 and a beta of 0.82. The company has a debt-to-equity ratio of 1.28, a quick ratio of 3.83 and a current ratio of 3.83. New Relic has a 52-week low of $50.27 and a 52-week high of $114.78.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.04. The firm had revenue of $108.22 million during the quarter, compared to the consensus estimate of $106.09 million. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. Equities analysts predict that New Relic will post -0.38 EPS for the current year.

Several research firms have recently issued reports on NEWR. Argus began coverage on New Relic in a research note on Tuesday, July 17th. They issued a hold rating for the company. TheStreet raised New Relic from a d rating to a c rating in a research note on Thursday, August 23rd. Zacks Investment Research raised New Relic from a hold rating to a buy rating and set a $118.00 price target for the company in a research note on Tuesday, August 14th. Needham & Company LLC increased their price target on New Relic from $121.00 to $129.00 and gave the stock a buy rating in a research note on Wednesday, August 8th. Finally, DA Davidson began coverage on New Relic in a research note on Wednesday, July 11th. They issued a neutral rating and a $105.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $97.00.

In other news, CFO Mark Sachleben sold 1,052 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $98.63, for a total value of $103,758.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James R. Gochee sold 508 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $101.48, for a total value of $51,551.84. Following the completion of the sale, the insider now owns 311,454 shares of the company’s stock, valued at approximately $31,606,351.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,742 shares of company stock valued at $41,658,041. Insiders own 20.40% of the company’s stock.

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New Relic Company Profile

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

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Earnings History and Estimates for New Relic (NYSE:NEWR)

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