Wall Street analysts predict that New Relic Inc (NYSE:NEWR) will announce $78.07 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for New Relic’s earnings. The lowest sales estimate is $77.74 million and the highest is $78.5 million. New Relic posted sales of $58.61 million in the same quarter last year, which suggests a positive year over year growth rate of 33.2%. The business is expected to report its next earnings report on Tuesday, August 1st.

On average, analysts expect that New Relic will report full-year sales of $78.07 million for the current fiscal year, with estimates ranging from $343.4 million to $346.3 million. For the next fiscal year, analysts anticipate that the firm will report sales of $435.92 million per share, with estimates ranging from $426.6 million to $445.08 million. Zacks’ sales averages are an average based on a survey of analysts that follow New Relic.

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

Several analysts have issued reports on NEWR shares. Oppenheimer Holdings Inc. set a $40.00 price target on shares of New Relic and gave the company a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research upgraded shares of New Relic from a “sell” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, April 12th. CIBC upped their price target 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. Robert W. Baird upped their price target 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. Finally, Cowen and Company restated an “outperform” rating and set a $44.00 price target (up from $38.00) on shares of New Relic in a research report on Wednesday, February 8th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. New Relic has a consensus rating of “Buy” and a consensus target price of $46.56.

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In other news, CFO Mark Sachleben sold 3,500 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $33.67, for a total transaction of $117,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robin Schulman sold 3,649 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $36.96, for a total transaction of $134,867.04. Following the transaction, the vice president now directly owns 4,226 shares of the company’s stock, valued at $156,192.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,800 shares of company stock valued at $6,297,219. Company insiders own 46.60% of the company’s stock.

Several institutional investors have recently modified their holdings of NEWR. Focused Wealth Management Inc increased its position in shares of New Relic by 7.5% in the fourth quarter. Focused Wealth Management Inc now owns 4,290 shares of the software maker’s stock valued at $121,000 after buying an additional 300 shares during the period. Fortaleza Asset Management Inc. increased its position in shares of New Relic by 73.8% in the first quarter. Fortaleza Asset Management Inc. now owns 4,910 shares of the software maker’s stock valued at $182,000 after buying an additional 2,085 shares during the period. Envestnet Asset Management Inc. increased its position in shares of New Relic by 203.4% in the first quarter. Envestnet Asset Management Inc. now owns 5,473 shares of the software maker’s stock valued at $204,000 after buying an additional 3,669 shares during the period. GSA Capital Partners LLP purchased a new position in shares of New Relic during the fourth quarter valued at approximately $212,000. Finally, Cipher Capital LP purchased a new position in shares of New Relic during the first quarter valued at approximately $278,000. 63.71% of the stock is owned by hedge funds and other institutional investors.

Shares of New Relic (NYSE:NEWR) traded up 1.36% on Friday, reaching $44.60. The company had a trading volume of 781,488 shares. New Relic has a one year low of $27.20 and a one year high of $45.32. The company’s 50-day moving average is $41.13 and its 200-day moving average is $35.59. The company’s market capitalization is $2.39 billion.

New Relic Company Profile

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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