Zacks: Brokerages Expect New Relic Inc (NYSE:NEWR) to Announce $0.13 EPS

Brokerages predict that New Relic Inc (NYSE:NEWR) will announce $0.13 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for New Relic’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.14. New Relic reported earnings per share of $0.19 in the same quarter last year, which would indicate a negative year over year growth rate of 31.6%. The company is scheduled to announce its next earnings report on Wednesday, February 5th.

On average, analysts expect that New Relic will report full year earnings of $0.63 per share for the current year, with EPS estimates ranging from $0.60 to $0.69. For the next fiscal year, analysts forecast that the business will post earnings of $0.77 per share, with EPS estimates ranging from $0.61 to $0.99. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, November 5th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.39. New Relic had a negative return on equity of 8.90% and a negative net margin of 11.26%. The business had revenue of $145.80 million during the quarter, compared to analyst estimates of $143.43 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year.

NEWR has been the subject of several recent analyst reports. ValuEngine lowered New Relic from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Goldman Sachs Group dropped their target price on New Relic from $65.00 to $52.00 and set a “sell” rating for the company in a research report on Monday, September 16th. TheStreet lowered New Relic from a “c-” rating to a “d+” rating in a research report on Tuesday, November 5th. DA Davidson set a $95.00 target price on New Relic and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Zacks Investment Research upgraded New Relic from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. New Relic currently has a consensus rating of “Buy” and a consensus target price of $83.59.

Shares of NYSE:NEWR traded down $0.32 during trading hours on Thursday, hitting $66.78. 646,465 shares of the company’s stock traded hands, compared to its average volume of 1,008,695. New Relic has a 1 year low of $50.00 and a 1 year high of $109.00. The business has a fifty day moving average price of $62.94 and a 200-day moving average price of $78.03. The firm has a market capitalization of $3.96 billion, a P/E ratio of -215.42 and a beta of 0.97. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.01 and a quick ratio of 3.01.

In related news, CEO Lewis Cirne sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.61, for a total value of $367,965.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James R. Gochee sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $60.34, for a total transaction of $241,360.00. Following the completion of the transaction, the chief technology officer now directly owns 124,823 shares of the company’s stock, valued at approximately $7,531,819.82. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock valued at $1,763,425 in the last three months. 17.40% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of NEWR. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of New Relic during the third quarter worth $27,000. NEXT Financial Group Inc increased its position in shares of New Relic by 905.3% during the third quarter. NEXT Financial Group Inc now owns 573 shares of the software maker’s stock worth $35,000 after purchasing an additional 516 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of New Relic during the second quarter worth $55,000. Flinton Capital Management LLC increased its position in shares of New Relic by 51.9% during the second quarter. Flinton Capital Management LLC now owns 656 shares of the software maker’s stock worth $57,000 after purchasing an additional 224 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its position in shares of New Relic by 44.8% during the third quarter. Winslow Evans & Crocker Inc. now owns 666 shares of the software maker’s stock worth $44,000 after purchasing an additional 206 shares in the last quarter. 76.82% of the stock is owned by institutional investors.

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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