$0.13 Earnings Per Share Expected for New Relic Inc (NYSE:NEWR) This Quarter

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

According to Zacks, analysts expect that New Relic will report full-year earnings of $0.63 per share for the current financial year, with EPS estimates ranging from $0.60 to $0.69. For the next fiscal year, analysts anticipate that the business will report earnings of $0.77 per share, with EPS estimates ranging from $0.61 to $0.99. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for New Relic.

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

Several analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of New Relic from $73.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, September 17th. Robert W. Baird dropped their price target on shares of New Relic from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Goldman Sachs Group dropped their price target on shares of New Relic from $65.00 to $52.00 and set a “sell” rating for the company in a research note on Monday, September 16th. Deutsche Bank reissued a “buy” rating and issued a $65.00 price target (down previously from $90.00) on shares of New Relic in a research note on Monday, September 16th. Finally, Oppenheimer dropped their price target on shares of New Relic from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $83.59.

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 52-week low of $50.00 and a 52-week high of $109.00. The company has a market capitalization of $3.96 billion, a PE 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. The firm’s 50-day moving average is $62.94 and its 200-day moving average is $78.03.

In related news, CEO Lewis Cirne sold 9,500 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.76, for a total transaction of $624,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James R. Gochee sold 4,000 shares of the 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 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 have sold a total of 28,500 shares of company stock valued at $1,763,425 in the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Wedbush Securities Inc. boosted its position in shares of New Relic by 5.9% during the 2nd quarter. Wedbush Securities Inc. now owns 2,661 shares of the software maker’s stock worth $230,000 after purchasing an additional 148 shares during the period. Nvwm LLC lifted its holdings in New Relic by 4.1% during the 2nd quarter. Nvwm LLC now owns 4,869 shares of the software maker’s stock worth $421,000 after buying an additional 192 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in New Relic by 8.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 2,516 shares of the software maker’s stock worth $218,000 after buying an additional 199 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in New Relic by 44.8% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 666 shares of the software maker’s stock worth $44,000 after buying an additional 206 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in New Relic by 51.9% during the 2nd quarter. Flinton Capital Management LLC now owns 656 shares of the software maker’s stock worth $57,000 after buying an additional 224 shares in the last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.

About New Relic

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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