Analysts expect New Relic (NYSE:NEWR) to post $96.33 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for New Relic’s earnings. The highest sales estimate is $97.50 million and the lowest is $95.78 million. New Relic posted sales of $73.34 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, May 8th.
According to Zacks, analysts expect that New Relic will report full-year sales of $351.51 million for the current financial year, with estimates ranging from $343.00 million to $354.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $448.91 million per share, with estimates ranging from $441.27 million to $457.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow New Relic.
New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. The business had revenue of $91.83 million for the quarter, compared to analyst estimates of $89.31 million. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. New Relic’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) EPS.
In other New Relic news, CEO Lewis Cirne sold 25,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $62.73, for a total value of $1,568,250.00. Following the transaction, the chief executive officer now directly owns 7,651,289 shares in the company, valued at approximately $479,965,358.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Sachleben sold 763 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $75.90, for a total value of $57,911.70. Following the completion of the transaction, the chief financial officer now owns 2,203 shares in the company, valued at $167,207.70. The disclosure for this sale can be found here. Insiders sold a total of 347,802 shares of company stock worth $24,204,523 over the last quarter. Corporate insiders own 23.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Crow Point Partners LLC bought a new position in New Relic in the 4th quarter valued at $113,000. Woodstock Corp bought a new position in shares of New Relic in the 4th quarter worth $212,000. Xact Kapitalforvaltning AB bought a new position in shares of New Relic in the 4th quarter worth $233,000. Amalgamated Bank bought a new position in shares of New Relic in the 4th quarter worth $240,000. Finally, ETRADE Capital Management LLC bought a new position in shares of New Relic in the 4th quarter worth $270,000. Hedge funds and other institutional investors own 75.78% of the company’s stock.
NYSE NEWR traded up $0.24 during trading hours on Friday, reaching $75.19. 777,623 shares of the company’s stock were exchanged, compared to its average volume of 495,949. The firm has a market cap of $4,043.89, a PE ratio of -68.35 and a beta of 0.64. New Relic has a one year low of $39.00 and a one year high of $79.08.
New Relic Company Profile
New Relic, Inc, a software-as-a-service company, provides digital intelligence products worldwide. The company's cloud-based platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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