-$0.21 EPS Expected for New Relic, Inc. (NYSE:NEWR) This Quarter

Brokerages expect New Relic, Inc. (NYSE:NEWRGet Rating) to report ($0.21) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for New Relic’s earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.22). New Relic posted earnings of ($0.27) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.2%. The firm is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that New Relic will report full-year earnings of ($0.74) per share for the current financial year, with EPS estimates ranging from ($0.75) to ($0.73). For the next year, analysts expect that the business will post earnings of $0.11 per share, with EPS estimates ranging from $0.01 to $0.32. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for New Relic.

New Relic (NYSE:NEWRGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The software maker reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.17). The company had revenue of $203.59 million for the quarter, compared to analyst estimates of $200.44 million. New Relic had a negative return on equity of 68.08% and a negative net margin of 34.10%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm posted ($0.75) EPS.

A number of equities analysts have weighed in on NEWR shares. Needham & Company LLC lowered their price objective on New Relic from $100.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Truist Financial reduced their target price on New Relic from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, March 24th. Morgan Stanley reduced their target price on New Relic from $150.00 to $138.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. StockNews.com began coverage on New Relic in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded New Relic from a “hold” rating to a “sell” rating in a research report on Saturday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $109.22.

NYSE NEWR opened at $71.88 on Thursday. The stock’s fifty day moving average is $67.61 and its two-hundred day moving average is $87.69. The firm has a market capitalization of $4.76 billion, a P/E ratio of -17.88 and a beta of 1.01. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.49 and a current ratio of 2.49. New Relic has a fifty-two week low of $51.52 and a fifty-two week high of $129.70.

In other news, CEO William Staples sold 2,535 shares of the company’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $70.92, for a total transaction of $179,782.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kristy Friedrichs sold 1,814 shares of the company’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $70.92, for a total value of $128,648.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,843 shares of company stock worth $4,911,228. 22.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its holdings in shares of New Relic by 77.7% in the 4th quarter. Quadrant Capital Group LLC now owns 231 shares of the software maker’s stock valued at $25,000 after acquiring an additional 101 shares during the period. CWM LLC acquired a new position in shares of New Relic in the 4th quarter valued at $25,000. Private Ocean LLC acquired a new position in shares of New Relic in the 3rd quarter valued at $41,000. Canada Pension Plan Investment Board increased its holdings in shares of New Relic by 132.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 559 shares of the software maker’s stock valued at $62,000 after acquiring an additional 318 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in shares of New Relic in the 3rd quarter valued at $87,000. 86.17% of the stock is currently owned by institutional investors.

About New Relic (Get Rating)

New Relic, Inc, a software-as-a-service company, provides platform for engineers to plan, build, deploy, and operate software worldwide. It offers a suite of products on its open and extensible cloud-based platform, New Relic One Platform, which enables users to collect, store, and analyze telemetry data flowing through and about their software.

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