Brokerages expect that New Relic, Inc. (NYSE:NEWR) will post earnings of ($0.28) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for New Relic’s earnings, with the lowest EPS estimate coming in at ($0.29) and the highest estimate coming in at ($0.26). New Relic posted earnings of ($0.26) per share during the same quarter last year, which would indicate a negative year over year growth rate of 7.7%. The firm is expected to issue its next earnings report on Monday, November 6th.

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 year, analysts anticipate that the firm will post earnings of ($0.57) per share, with EPS estimates ranging from ($0.61) to ($0.53). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover New Relic.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.36% and a negative net margin of 20.68%. The firm had revenue of $80.10 million during the quarter, compared to analyst estimates of $78.09 million. During the same period last year, the company earned ($0.20) EPS. New Relic’s quarterly revenue was up 36.7% compared to the same quarter last year.

Several research analysts have commented on the stock. UBS AG upped their target price on shares of New Relic from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday. First Analysis cut shares of New Relic from an “overweight” rating to an “equal weight” rating in a research report on Friday. BidaskClub cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley cut shares of New Relic from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $45.00 to $48.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. Finally, Stephens assumed coverage on shares of New Relic in a research report on Thursday, May 25th. They issued an “overweight” rating and a $55.00 target price for the company. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $47.10.

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Shares of New Relic (NEWR) traded down 1.07% during midday trading on Friday, hitting $46.02. The company had a trading volume of 2,012,001 shares. The company has a 50-day moving average of $45.07 and a 200-day moving average of $40.13. The company’s market capitalization is $2.51 billion. New Relic has a 12 month low of $27.85 and a 12 month high of $49.19.

In other news, insider James R. Gochee sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $43.74, for a total value of $874,800.00. Following the completion of the transaction, the insider now directly owns 383,544 shares in the company, valued at $16,776,214.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robin Schulman sold 2,083 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $40.42, for a total transaction of $84,194.86. Following the completion of the transaction, the vice president now owns 2,660 shares of the company’s stock, valued at $107,517.20. The disclosure for this sale can be found here. Insiders sold 202,535 shares of company stock valued at $8,849,414 over the last quarter. Insiders own 23.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of NEWR. Botty Investors LLC boosted its stake in shares of New Relic by 23.5% in the second quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after buying an additional 535 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of New Relic by 1.4% in the first quarter. Teachers Advisors LLC now owns 58,125 shares of the software maker’s stock worth $2,155,000 after buying an additional 811 shares during the last quarter. American International Group Inc. boosted its stake in shares of New Relic by 7.1% in the first quarter. American International Group Inc. now owns 13,522 shares of the software maker’s stock worth $501,000 after buying an additional 894 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of New Relic by 8.5% in the first quarter. OLD National Bancorp IN now owns 13,351 shares of the software maker’s stock worth $495,000 after buying an additional 1,044 shares during the last quarter. Finally, Wrapmanager Inc. boosted its stake in shares of New Relic by 16.4% in the first quarter. Wrapmanager Inc. now owns 9,829 shares of the software maker’s stock worth $364,000 after buying an additional 1,386 shares during the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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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