Wall Street analysts forecast that New Relic Inc (NYSE:NEWR) will report earnings per share of ($0.28) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for New Relic’s earnings, with the highest EPS estimate coming in at ($0.28) and the lowest estimate coming in at ($0.29). New Relic posted earnings per share of ($0.34) in the same quarter last year, which would indicate a positive year over year growth rate of 17.6%. The firm is expected to report its next earnings results on Tuesday, August 1st.

On average, analysts expect that New Relic will report full year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($0.99) to ($0.96). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.57) per share, with EPS estimates ranging from ($0.61) to ($0.53). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, May 9th. The software maker reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $73.04 million. New Relic had a negative net margin of 26.90% and a negative return on equity of 32.99%. The business’s quarterly revenue was up 39.6% on a year-over-year basis. During the same period last year, the company posted ($0.24) earnings per share.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. CIBC boosted their price objective on shares of New Relic from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Stephens assumed coverage on shares of New Relic in a research report on Thursday. They set an “overweight” rating and a $55.00 price objective on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $46.00 price objective (up from $40.00) on shares of New Relic in a research report on Friday, May 12th. Finally, Robert W. Baird boosted their price objective on shares of New Relic from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, April 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $46.56.

Shares of New Relic (NYSE:NEWR) opened at 44.00 on Friday. New Relic has a 12-month low of $27.20 and a 12-month high of $44.95. The firm has a 50-day moving average of $40.99 and a 200-day moving average of $35.52. The firm’s market capitalization is $2.35 billion.

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In other news, CEO Lewis Cirne sold 33,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $40.81, for a total value of $1,346,730.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robin Schulman sold 2,599 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $43.72, for a total transaction of $113,628.28. Following the completion of the sale, the vice president now directly owns 974 shares in the company, valued at $42,583.28. The disclosure for this sale can be found here. Insiders sold a total of 160,800 shares of company stock worth $6,297,219 over the last ninety days. Insiders own 46.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Matrix Capital Management Company LP purchased a new stake in shares of New Relic during the third quarter valued at approximately $185,779,000. Champlain Investment Partners LLC purchased a new stake in shares of New Relic during the fourth quarter valued at approximately $39,206,000. Peregrine Capital Management LLC purchased a new stake in shares of New Relic during the first quarter valued at approximately $18,867,000. Arrowpoint Asset Management LLC increased its stake in shares of New Relic by 53.9% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,463,224 shares of the software maker’s stock valued at $41,336,000 after buying an additional 512,292 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of New Relic during the first quarter valued at approximately $18,611,000. 63.71% of the stock is currently owned by institutional investors.

About New Relic

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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