New Relic, Inc. (NYSE:NEWR) Expected to Post Earnings of -$0.21 Per Share

Wall Street brokerages expect that New Relic, Inc. (NYSE:NEWRGet Rating) will announce earnings of ($0.21) per share for the current fiscal quarter, Zacks reports. Four analysts have issued 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 during the same quarter last year, which indicates a positive year-over-year growth rate of 22.2%. The business is expected to announce 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 forecast that the business will report earnings of $0.11 per share, with EPS estimates ranging from $0.01 to $0.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover New Relic.

New Relic (NYSE:NEWRGet Rating) last issued its quarterly earnings results on Tuesday, February 8th. The software maker reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.17). New Relic had a negative return on equity of 68.08% and a negative net margin of 34.10%. The company had revenue of $203.59 million for the quarter, compared to analysts’ expectations of $200.44 million. During the same quarter last year, the company earned ($0.75) EPS. New Relic’s revenue for the quarter was up 22.4% compared to the same quarter last year.

A number of research analysts have recently commented on NEWR shares. Truist Financial dropped their price objective on New Relic from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. Needham & Company LLC dropped their price objective on New Relic from $100.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, March 2nd. Morgan Stanley dropped their price objective on New Relic from $150.00 to $138.00 and set an “overweight” rating on the stock in a report on Wednesday, February 9th. StockNews.com started coverage on New Relic in a 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 report on Saturday, April 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $109.22.

In other New Relic news, CEO William Staples sold 2,535 shares of the stock in a transaction that occurred on 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 hyperlink. Also, Chairman Lewis Cirne sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $74.34, for a total value of $2,230,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,748 shares of company stock valued at $7,513,859. Insiders own 22.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clearstead Advisors LLC acquired a new stake in shares of New Relic in the 1st quarter valued at approximately $185,000. Envestnet Asset Management Inc. lifted its holdings in shares of New Relic by 129.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,301 shares of the software maker’s stock valued at $890,000 after buying an additional 7,515 shares during the period. Versor Investments LP acquired a new stake in shares of New Relic in the 1st quarter valued at approximately $377,000. Arizona State Retirement System lifted its holdings in shares of New Relic by 1.3% in the 1st quarter. Arizona State Retirement System now owns 15,914 shares of the software maker’s stock valued at $1,064,000 after buying an additional 206 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in New Relic in the 1st quarter valued at approximately $223,000. 88.24% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE NEWR opened at $62.27 on Thursday. The stock’s 50-day moving average is $65.93 and its two-hundred day moving average is $86.97. 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 1-year low of $51.52 and a 1-year high of $129.70.

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.

Read More

Get a free copy of the Zacks research report on New Relic (NEWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.