Brokerages Expect New Relic, Inc. (NYSE:NEWR) to Post -$0.36 Earnings Per Share

Analysts expect that New Relic, Inc. (NYSE:NEWRGet Rating) will report earnings of ($0.36) per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for New Relic’s earnings, with the highest EPS estimate coming in at ($0.35) and the lowest estimate coming in at ($0.37). New Relic posted earnings of ($0.25) per share in the same quarter last year, which indicates a negative year over year growth rate of 44%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that New Relic will report full year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.44) to $0.02. For the next year, analysts expect that the company will post earnings of $0.45 per share, with EPS estimates ranging from ($0.04) to $1.23. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow New Relic.

Several research firms have commented on NEWR. Needham & Company LLC downgraded shares of New Relic from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Morgan Stanley cut their price objective on shares of New Relic from $150.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, February 9th. Cowen dropped their target price on shares of New Relic from $80.00 to $65.00 in a report on Friday, May 13th. Zacks Investment Research cut shares of New Relic from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, StockNews.com initiated coverage on shares of New Relic in a report on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $88.09.

In other news, Chairman Lewis Cirne sold 30,000 shares of New Relic stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $66.12, for a total transaction of $1,983,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kristy Friedrichs sold 3,472 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $70.47, for a total value of $244,671.84. Following the completion of the sale, the chief operating officer now owns 10,380 shares of the company’s stock, valued at approximately $731,478.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,752 shares of company stock valued at $6,923,832. Insiders own 22.00% of the company’s stock.

Several large investors have recently made changes to their positions in the company. EULAV Asset Management purchased a new position in New Relic during the 4th quarter valued at approximately $741,000. Caas Capital Management LP lifted its stake in shares of New Relic by 23.0% in the 3rd quarter. Caas Capital Management LP now owns 35,427 shares of the software maker’s stock valued at $2,543,000 after purchasing an additional 6,627 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of New Relic in the 4th quarter valued at approximately $13,539,000. Capital Fund Management S.A. bought a new stake in shares of New Relic in the 3rd quarter valued at approximately $1,122,000. Finally, KRS Capital Management LLC bought a new stake in shares of New Relic in the 4th quarter valued at approximately $155,000. 88.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NEWR stock opened at $48.68 on Thursday. New Relic has a 12 month low of $41.66 and a 12 month high of $129.70. The company’s fifty day simple moving average is $61.08 and its 200-day simple moving average is $82.57. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 2.15.

New Relic Company Profile (Get Rating)

New Relic, Inc, a software-as-a-service company, provides platform for engineers to plan, build, deploy, and operate software worldwide. It offers a suite of products on its open and extensible cloud-based platform, New Relic One Platform, which enables users to collect, store, and analyze telemetry data flowing through and about their software.

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

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