New Relic (NYSE:NEWR) will issue its quarterly earnings data after the market closes on Tuesday, May 14th. Analysts expect the company to announce earnings of ($0.18) per share for the quarter.
New Relic (NYSE:NEWR) last announced its quarterly earnings data on Wednesday, February 6th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.03. The company had revenue of $124.00 million during the quarter, compared to the consensus estimate of $120.18 million. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, analysts expect New Relic to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of NYSE:NEWR opened at $107.30 on Friday. The company has a market cap of $6.14 billion, a P/E ratio of -145.00 and a beta of 1.03. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.23. New Relic has a 12-month low of $70.30 and a 12-month high of $114.78.
NEWR has been the subject of a number of recent research reports. Morgan Stanley upgraded New Relic from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 15th. ValuEngine upgraded New Relic from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. DA Davidson restated a “buy” rating on shares of New Relic in a research note on Thursday, February 7th. JPMorgan Chase & Co. upped their price target on New Relic to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, February 7th. Finally, Oppenheimer upped their price target on New Relic from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $117.25.
In other New Relic news, CEO Lewis Cirne sold 21,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $104.75, for a total value of $2,199,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Sachleben sold 22,641 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $106.53, for a total value of $2,411,945.73. The disclosure for this sale can be found here. Insiders sold a total of 131,341 shares of company stock valued at $13,586,054 over the last 90 days. 20.40% of the stock is currently owned by corporate insiders.
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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