Wall Street analysts expect that New Relic, Inc. (NYSE:NEWR) will report $83.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for New Relic’s earnings, with the highest sales estimate coming in at $84.07 million and the lowest estimate coming in at $83.10 million. New Relic reported sales of $63.44 million in the same quarter last year, which indicates a positive year over year growth rate of 31.5%. The business is scheduled to issue its next quarterly earnings results on Monday, November 6th.

According to Zacks, analysts expect that New Relic will report full-year sales of $83.42 million for the current fiscal year, with estimates ranging from $343.40 million to $346.30 million. For the next financial year, analysts forecast that the firm will report sales of $436.42 million per share, with estimates ranging from $426.60 million to $445.08 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow New Relic.

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

Several equities analysts recently commented on NEWR shares. First Analysis downgraded shares of New Relic from an “overweight” rating to an “equal weight” rating in a research note on Friday. BidaskClub downgraded shares of New Relic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. 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 note on Monday, May 15th. Stephens started coverage on shares of New Relic in a research note on Thursday, May 25th. They issued an “overweight” rating and a $55.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $47.10.

New Relic (NYSE NEWR) opened at 45.15 on Tuesday. The stock’s 50 day moving average is $45.07 and its 200-day moving average is $40.13. New Relic has a 12-month low of $27.85 and a 12-month high of $49.19. The company’s market capitalization is $2.42 billion.

In related news, CEO Lewis Cirne sold 33,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $43.68, for a total transaction of $1,441,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Sachleben sold 1,050 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $44.68, for a total transaction of $46,914.00. Following the sale, the chief financial officer now directly owns 937 shares of the company’s stock, valued at approximately $41,865.16. The disclosure for this sale can be found here. Insiders have sold 229,952 shares of company stock valued at $10,142,139 in the last ninety days. 23.10% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of NEWR. Citadel Advisors LLC boosted its stake in New Relic by 98.3% in the first quarter. Citadel Advisors LLC now owns 25,024 shares of the software maker’s stock valued at $928,000 after buying an additional 12,405 shares in the last quarter. Clearbridge Investments LLC boosted its stake in New Relic by 377.8% in the first quarter. Clearbridge Investments LLC now owns 1,368,733 shares of the software maker’s stock valued at $50,739,000 after buying an additional 1,082,245 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in New Relic during the first quarter valued at $6,228,000. Renaissance Technologies LLC purchased a new stake in New Relic during the fourth quarter valued at $2,270,000. Finally, Bank of New York Mellon Corp boosted its stake in New Relic by 66.4% in the first quarter. Bank of New York Mellon Corp now owns 1,051,025 shares of the software maker’s stock valued at $38,961,000 after buying an additional 419,316 shares in the last quarter. 71.33% of the stock is owned by institutional investors and hedge funds.

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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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