New Relic Inc (NYSE:NEWR) Expected to Post Quarterly Sales of $139.61 Million

Share on StockTwits

Analysts expect New Relic Inc (NYSE:NEWR) to post $139.61 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for New Relic’s earnings, with the lowest sales estimate coming in at $138.96 million and the highest estimate coming in at $141.80 million. New Relic posted sales of $108.22 million during the same quarter last year, which suggests a positive year-over-year growth rate of 29%. The company is expected to announce its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that New Relic will report full year sales of $605.61 million for the current financial year, with estimates ranging from $603.47 million to $611.50 million. For the next year, analysts anticipate that the firm will post sales of $755.61 million, with estimates ranging from $746.96 million to $762.41 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. New Relic had a negative return on equity of 6.57% and a negative net margin of 8.53%. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $128.19 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s revenue was up 34.2% on a year-over-year basis.

Several research analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $124.00 target price on shares of New Relic in a research note on Wednesday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $131.00 target price (up previously from $129.00) on shares of New Relic in a research note on Wednesday, May 15th. JMP Securities reissued a “hold” rating on shares of New Relic in a research note on Monday, February 11th. Zacks Investment Research raised shares of New Relic from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a research note on Tuesday, February 12th. Finally, Goldman Sachs Group started coverage on shares of New Relic in a research note on Friday. They issued a “sell” rating and a $83.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. New Relic has an average rating of “Buy” and an average target price of $115.17.

Shares of NEWR stock opened at $95.74 on Monday. New Relic has a twelve month low of $70.30 and a twelve month high of $114.78. The stock has a market capitalization of $5.56 billion, a P/E ratio of -308.84 and a beta of 1.03. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.90 and a quick ratio of 2.90.

In other New Relic news, Director Peter H. Fenton sold 45,000 shares of New Relic stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $95.16, for a total value of $4,282,200.00. Following the completion of the sale, the director now owns 617 shares in the company, valued at approximately $58,713.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lewis Cirne sold 4,000 shares of New Relic stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $94.29, for a total value of $377,160.00. The disclosure for this sale can be found here. Insiders sold a total of 161,750 shares of company stock valued at $16,094,360 in the last 90 days. 20.40% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. QS Investors LLC grew its holdings in shares of New Relic by 1.0% during the 4th quarter. QS Investors LLC now owns 10,092 shares of the software maker’s stock worth $818,000 after purchasing an additional 100 shares during the period. Vista Equity Partners Management LLC acquired a new position in New Relic during the 4th quarter worth approximately $13,553,000. Rhumbline Advisers lifted its position in New Relic by 48.0% during the 4th quarter. Rhumbline Advisers now owns 60,113 shares of the software maker’s stock worth $4,867,000 after acquiring an additional 19,499 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in New Relic during the 4th quarter worth approximately $6,003,000. Finally, Toronado Partners LLC acquired a new position in New Relic during the 4th quarter worth approximately $9,307,000. Institutional investors and hedge funds own 78.74% of the company’s stock.

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.

See Also: Trading Strategy Methods for Individual Investors

Get a free copy of the Zacks research report on New Relic (NEWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.