Equities analysts expect that New Relic Inc (NYSE:NEWR) will announce $89.37 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for New Relic’s earnings, with the highest sales estimate coming in at $89.60 million and the lowest estimate coming in at $89.10 million. New Relic posted sales of $68.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.2%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, February 6th.

According to Zacks, analysts expect that New Relic will report full-year sales of $89.37 million for the current fiscal year, with estimates ranging from $346.00 million to $349.80 million. For the next fiscal year, analysts anticipate that the business will report sales of $439.73 million per share, with estimates ranging from $435.38 million to $441.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover New Relic.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $84.68 million during the quarter, compared to analysts’ expectations of $82.98 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share.

NEWR has been the subject of several research reports. Robert W. Baird set a $55.00 target price on New Relic and gave the company a “buy” rating in a report on Monday, September 11th. BidaskClub cut New Relic from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. KeyCorp assumed coverage on New Relic in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $52.00 price target on the stock. Oppenheimer reiterated a “buy” rating and set a $50.00 target price on shares of New Relic in a research report on Tuesday, September 19th. Finally, Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, October 4th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.23.

Shares of New Relic (NYSE:NEWR) traded up $1.03 during midday trading on Wednesday, reaching $58.80. The company’s stock had a trading volume of 450,100 shares, compared to its average volume of 341,500. The stock has a market cap of $3,180.96, a P/E ratio of -52.50 and a beta of 1.03. New Relic has a 12 month low of $28.40 and a 12 month high of $60.85.

In other news, CFO Mark Sachleben sold 5,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $50.40, for a total transaction of $252,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James R. Gochee sold 4,000 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $50.25, for a total transaction of $201,000.00. Following the transaction, the insider now directly owns 343,382 shares in the company, valued at approximately $17,254,945.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,248 shares of company stock valued at $10,067,880. 23.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in shares of New Relic by 21.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 131,923 shares of the software maker’s stock valued at $5,675,000 after acquiring an additional 23,082 shares during the period. First Trust Advisors LP acquired a new position in New Relic in the second quarter worth approximately $1,594,000. Rhumbline Advisers grew its position in New Relic by 32.4% in the second quarter. Rhumbline Advisers now owns 33,054 shares of the software maker’s stock worth $1,422,000 after buying an additional 8,092 shares during the last quarter. Legal & General Group Plc grew its position in New Relic by 101.9% in the second quarter. Legal & General Group Plc now owns 10,461 shares of the software maker’s stock worth $450,000 after buying an additional 5,281 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after buying an additional 3,185 shares during the last quarter. 76.45% of the stock is currently owned by hedge funds and other institutional investors.

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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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