Zacks: Analysts Expect New Relic, Inc. (NYSE:NEWR) to Post -$0.13 EPS

Brokerages expect New Relic, Inc. (NYSE:NEWR) to announce earnings of ($0.13) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for New Relic’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.13). New Relic posted earnings per share of ($0.07) in the same quarter last year, which would indicate a negative year over year growth rate of 85.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that New Relic will report full-year earnings of ($0.51) per share for the current year, with EPS estimates ranging from ($0.52) to ($0.50). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.39) to $0.12. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.60. New Relic had a negative return on equity of 54.44% and a negative net margin of 35.19%. The business had revenue of $180.48 million for the quarter, compared to the consensus estimate of $172.74 million.

NEWR has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of New Relic from a “hold” rating to a “sell” rating in a research note on Wednesday, August 11th. BMO Capital Markets raised their price target on shares of New Relic from $58.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, August 4th. Morgan Stanley raised their price target on shares of New Relic from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective on shares of New Relic in a report on Tuesday, August 24th. Finally, Loop Capital increased their price objective on shares of New Relic from $55.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, New Relic has an average rating of “Hold” and an average target price of $74.43.

In related news, Chairman Lewis Cirne sold 31,500 shares of New Relic stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $74.29, for a total transaction of $2,340,135.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Kristy Friedrichs sold 2,915 shares of New Relic stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $76.73, for a total transaction of $223,667.95. Following the sale, the chief operating officer now owns 4,849 shares in the company, valued at $372,063.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,463 shares of company stock valued at $5,440,829. Corporate insiders own 22.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC acquired a new position in shares of New Relic during the first quarter worth about $25,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in New Relic during the second quarter worth about $37,000. Baillie Gifford & Co. boosted its holdings in New Relic by 356.5% during the first quarter. Baillie Gifford & Co. now owns 840 shares of the software maker’s stock worth $52,000 after buying an additional 656 shares in the last quarter. US Bancorp DE boosted its holdings in New Relic by 66.4% during the second quarter. US Bancorp DE now owns 1,434 shares of the software maker’s stock worth $96,000 after buying an additional 572 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in shares of New Relic by 41.2% in the first quarter. First Mercantile Trust Co. now owns 1,603 shares of the software maker’s stock valued at $99,000 after purchasing an additional 468 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

NYSE:NEWR traded down $0.02 during mid-day trading on Tuesday, hitting $76.41. The company’s stock had a trading volume of 276,960 shares, compared to its average volume of 667,770. New Relic has a 1 year low of $51.52 and a 1 year high of $82.76. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.42 and a quick ratio of 2.42. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -19.64 and a beta of 0.86. The business’s fifty day moving average is $74.13 and its two-hundred day moving average is $67.12.

About New Relic

New Relic, Inc, engages in the provision software solutions. It delivers an open and extensible cloud-based platform that enables organizations to collect, store and analyze massive amounts of data in real time to better operate applications and infrastructure. It offers solutions to e-commerce and retail, media, and public sector industries.

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