New Relic (NYSE:NEWR) Issues Q2 2020 Earnings Guidance

New Relic (NYSE:NEWR) issued an update on its second quarter 2020 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.14-0.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.12. The company issued revenue guidance of $143-145 million, compared to the consensus revenue estimate of $148.56 million.New Relic also updated its FY 2020 guidance to $0.55-0.63 EPS.

New Relic stock traded down $0.89 during mid-day trading on Friday, hitting $63.08. 1,407,200 shares of the company traded hands, compared to its average volume of 966,704. New Relic has a one year low of $55.60 and a one year high of $113.34. The firm has a market capitalization of $4.89 billion, a PE ratio of -203.48 and a beta of 0.83. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 1.16. The business’s fifty day moving average price is $89.74.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $141.01 million for the quarter, compared to the consensus estimate of $139.73 million. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.74%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. As a group, sell-side analysts forecast that New Relic will post -0.56 EPS for the current fiscal year.

NEWR has been the topic of several research reports. Morgan Stanley decreased their price target on shares of New Relic from $115.00 to $104.00 and set an overweight rating on the stock in a research note on Wednesday. KeyCorp reissued a hold rating on shares of New Relic in a research note on Wednesday. Raymond James downgraded shares of New Relic from an outperform rating to a market perform rating in a research note on Wednesday. ValuEngine downgraded shares of New Relic from a buy rating to a hold rating in a research note on Thursday. Finally, UBS Group set a $73.00 price target on shares of New Relic and gave the stock a hold rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. New Relic has a consensus rating of Hold and a consensus target price of $101.08.

In other New Relic news, CFO Mark Sachleben sold 15,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $103.88, for a total transaction of $1,558,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lewis Cirne sold 16,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $85.23, for a total transaction of $1,363,680.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,950 shares of company stock worth $17,491,613. 17.40% of the stock is owned by insiders.

New Relic Company Profile

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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Earnings History and Estimates for New Relic (NYSE:NEWR)

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