New Relic, Inc. (NEWR) Expected to Post Earnings of -$0.10 Per Share

Wall Street analysts forecast that New Relic, Inc. (NYSE:NEWR) will post ($0.10) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for New Relic’s earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.09). New Relic reported earnings of ($0.09) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The business is scheduled to report its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that New Relic will report full-year earnings of ($0.25) per share for the current fiscal year, with EPS estimates ranging from ($0.26) to ($0.23). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.13 to $0.28. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow New Relic.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The firm had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.09 million. During the same period last year, the business posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis.

Several brokerages have recently weighed in on NEWR. Morgan Stanley lowered New Relic from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $45.00 to $48.00 in a report on Thursday, July 20th. They noted that the move was a valuation call. Robert W. Baird set a $55.00 price target on New Relic and gave the company a “buy” rating in a research note on Monday. BidaskClub raised New Relic from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. First Analysis lowered New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research note on Friday, August 4th. Finally, UBS AG boosted their price target on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $48.55.

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In other news, VP Robin Schulman sold 5,534 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $46.98, for a total transaction of $259,987.32. Following the completion of the sale, the vice president now owns 6,111 shares in the company, valued at $287,094.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lewis Cirne sold 33,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $48.43, for a total value of $1,598,190.00. The disclosure for this sale can be found here. In the last three months, insiders sold 191,631 shares of company stock worth $8,798,615. Insiders own 23.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in New Relic by 1.4% in the second quarter. FMR LLC now owns 8,024,872 shares of the software maker’s stock valued at $345,149,000 after purchasing an additional 108,223 shares during the last quarter. Vanguard Group Inc. increased its holdings in New Relic by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,848,100 shares of the software maker’s stock valued at $122,497,000 after purchasing an additional 204,652 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in New Relic by 21.3% in the first quarter. Champlain Investment Partners LLC now owns 1,682,895 shares of the software maker’s stock valued at $62,385,000 after purchasing an additional 295,085 shares during the last quarter. Clearbridge Investments LLC increased its holdings in New Relic by 377.8% in the first quarter. Clearbridge Investments LLC now owns 1,368,733 shares of the software maker’s stock valued at $50,739,000 after purchasing an additional 1,082,245 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in New Relic by 24.4% in the second quarter. Bank of New York Mellon Corp now owns 1,307,282 shares of the software maker’s stock valued at $56,226,000 after purchasing an additional 256,257 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Shares of New Relic (NEWR) traded down 0.68% during trading on Tuesday, reaching $49.66. The company had a trading volume of 98,642 shares. The firm’s market capitalization is $2.71 billion. The stock has a 50 day moving average price of $46.99 and a 200 day moving average price of $42.44. New Relic has a 12 month low of $27.85 and a 12 month high of $50.00.

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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