New Relic, Inc. (NEWR) Set to Announce Quarterly Earnings on Monday
New Relic, Inc. (NYSE:NEWR) will be issuing its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. New Relic has set its Q2 guidance at ($0.09-0.11) EPS and its FY18 guidance at ($0.23-0.28) EPS.
New Relic (NYSE:NEWR) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.19%. The company had revenue of $80.10 million during the quarter, compared to the consensus estimate of $78.09 million. During the same quarter last year, the firm posted ($0.20) EPS. The company’s quarterly revenue was up 36.7% on a year-over-year basis. On average, analysts expect New Relic to post $-0.99 EPS for the current fiscal year and $-0.6 EPS for the next fiscal year.
Shares of New Relic, Inc. (NYSE:NEWR) traded down 0.34% on Monday, hitting $50.14. 17,203 shares of the stock were exchanged. The stock’s 50-day moving average is $49.81 and its 200-day moving average is $45.58. New Relic, Inc. has a 1-year low of $27.85 and a 1-year high of $52.74. The stock’s market cap is $2.73 billion.
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In related news, CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $52.40, for a total value of $262,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robin Schulman sold 667 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.03, for a total transaction of $31,369.01. Following the completion of the sale, the vice president now directly owns 1,244 shares in the company, valued at $58,505.32. The disclosure for this sale can be found here. Insiders sold 186,002 shares of company stock valued at $8,986,512 over the last 90 days. 23.10% of the stock is owned by company insiders.
NEWR has been the subject of several research reports. Morgan Stanley lowered shares of New Relic from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $45.00 to $48.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. BidaskClub lowered shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. First Analysis lowered shares of New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research report on Friday, August 4th. UBS AG increased their price target on shares of New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Finally, Robert W. Baird set a $55.00 target price on shares of New Relic and gave the stock a “buy” rating in a research report on Monday, September 11th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. New Relic has a consensus rating of “Buy” and a consensus target price of $51.62.
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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