New Relic (NYSE:NEWR) Issues FY 2023 Earnings Guidance

New Relic (NYSE:NEWRGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of -$0.37–$0.31 for the period, compared to the consensus EPS estimate of $0.10. The company issued revenue guidance of $920.00 million-$930.00 million, compared to the consensus revenue estimate of $913.87 million.New Relic also updated its FY23 guidance to $(0.37)-$(0.31) EPS.

Shares of NEWR stock opened at $47.82 on Friday. The stock has a market cap of $3.16 billion, a P/E ratio of -11.90 and a beta of 0.99. The company has a fifty day moving average price of $64.69 and a two-hundred day moving average price of $86.11. New Relic has a one year low of $45.32 and a one year high of $129.70. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.49 and a quick ratio of 2.49.

New Relic (NYSE:NEWRGet Rating) last released its earnings results on Tuesday, February 8th. The software maker reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.17). New Relic had a negative net margin of 34.10% and a negative return on equity of 68.08%. The firm had revenue of $203.59 million during the quarter, compared to the consensus estimate of $200.44 million. During the same period in the prior year, the business earned ($0.75) earnings per share. New Relic’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts anticipate that New Relic will post -3.63 EPS for the current fiscal year.

A number of research firms have issued reports on NEWR. Zacks Investment Research downgraded shares of New Relic from a hold rating to a sell rating in a report on Saturday, April 9th. Morgan Stanley cut their price target on shares of New Relic from $150.00 to $138.00 and set an overweight rating on the stock in a report on Wednesday, February 9th. Truist Financial lowered their price target on New Relic from $110.00 to $95.00 in a research report on Tuesday. Needham & Company LLC downgraded New Relic from a buy rating to a hold rating in a research note on Friday. Finally, started coverage on New Relic in a report on Thursday, March 31st. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from, New Relic currently has a consensus rating of Hold and a consensus price target of $102.89.

In other New Relic news, insider Steve Hurn sold 2,139 shares of the company’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $70.93, for a total transaction of $151,719.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Lewis Cirne sold 30,000 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $57.71, for a total transaction of $1,731,300.00. Following the completion of the transaction, the chairman now owns 42,918 shares in the company, valued at $2,476,797.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,748 shares of company stock valued at $7,014,959. 22.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NEWR. Raymond James & Associates boosted its stake in shares of New Relic by 71.3% during the first quarter. Raymond James & Associates now owns 59,633 shares of the software maker’s stock valued at $3,988,000 after purchasing an additional 24,817 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in New Relic by 35.8% in the 4th quarter. Parametric Portfolio Associates LLC now owns 81,449 shares of the software maker’s stock worth $8,956,000 after buying an additional 21,465 shares during the period. Comerica Bank purchased a new stake in New Relic in the 4th quarter worth $1,193,000. Millennium Management LLC purchased a new stake in New Relic in the 2nd quarter worth $618,000. Finally, Invesco Ltd. raised its position in shares of New Relic by 10.5% during the 4th quarter. Invesco Ltd. now owns 69,077 shares of the software maker’s stock valued at $7,596,000 after buying an additional 6,568 shares in the last quarter. 88.24% of the stock is owned by institutional investors and hedge funds.

New Relic Company Profile (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.

Featured Articles

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's FREE daily email newsletter.