New Relic (NYSE:NEWR) updated its FY20 earnings guidance on Tuesday. The company provided EPS guidance of $0.54-0.62 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.86. The company issued revenue guidance of $600-607 million, compared to the consensus revenue estimate of $601.69 million.New Relic also updated its FY 2020 guidance to $0.54-0.62 EPS.
A number of research analysts have recently issued reports on the company. BMO Capital Markets reiterated an outperform rating and set a $118.00 target price (up previously from $110.00) on shares of New Relic in a research report on Thursday, February 7th. Zacks Investment Research lowered New Relic from a buy rating to a hold rating in a report on Wednesday, April 3rd. Wedbush reissued an outperform rating and set a $124.00 price objective (up from $116.00) on shares of New Relic in a research report on Thursday, February 7th. ValuEngine raised New Relic from a hold rating to a buy rating in a research report on Thursday, January 17th. Finally, DA Davidson reaffirmed a buy rating on shares of New Relic in a research report on Thursday, February 7th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $117.25.
New Relic stock traded up $4.18 during mid-day trading on Tuesday, hitting $107.11. 1,025,146 shares of the company’s stock traded hands, compared to its average volume of 771,173. New Relic has a one year low of $70.30 and a one year high of $114.78. The company has a market capitalization of $6.14 billion, a P/E ratio of -144.74 and a beta of 1.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.53 and a quick ratio of 3.53.
In other news, insider James R. Gochee sold 4,000 shares of New Relic stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $105.16, for a total value of $420,640.00. Following the transaction, the insider now directly owns 293,837 shares in the company, valued at $30,899,898.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Sachleben sold 22,641 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $106.53, for a total value of $2,411,945.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,341 shares of company stock valued at $13,478,814. 20.40% of the stock is currently owned by insiders.
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About New Relic
New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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