New Relic Inc (NEWR) Expected to Announce Quarterly Sales of $128.17 Million

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Brokerages predict that New Relic Inc (NYSE:NEWR) will report $128.17 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for New Relic’s earnings. The highest sales estimate is $129.50 million and the lowest is $127.51 million. New Relic posted sales of $98.45 million in the same quarter last year, which would indicate a positive year over year growth rate of 30.2%. The firm is expected to issue its next earnings report after the market closes on Tuesday, May 14th.

On average, analysts expect that New Relic will report full-year sales of $475.22 million for the current financial year, with estimates ranging from $474.64 million to $476.60 million. For the next year, analysts expect that the business will post sales of $597.61 million, with estimates ranging from $579.00 million to $606.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow New Relic.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Wednesday, February 6th. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The company had revenue of $124.00 million for the quarter, compared to analyst estimates of $120.18 million. During the same quarter in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year.

A number of research analysts have weighed in on the company. Robert W. Baird increased their price target on New Relic from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 6th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and set a $124.00 price target on shares of New Relic in a research note on Thursday, April 18th. Oppenheimer increased their price target on New Relic from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Finally, Deutsche Bank increased their price target on New Relic to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $114.69.

Shares of New Relic stock opened at $101.07 on Thursday. New Relic has a fifty-two week low of $68.89 and a fifty-two week high of $114.78. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -136.58 and a beta of 1.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.53 and a current ratio of 3.53.

In other news, insider James R. Gochee sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $96.82, for a total transaction of $387,280.00. Following the completion of the sale, the insider now directly owns 289,234 shares in the company, valued at approximately $28,003,635.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Sachleben sold 22,641 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $106.53, for a total value of $2,411,945.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,341 shares of company stock valued at $11,811,544. Insiders own 20.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in NEWR. NumerixS Investment Technologies Inc acquired a new stake in New Relic in the 4th quarter valued at $32,000. Wealthcare Advisory Partners LLC grew its stake in shares of New Relic by 33.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 400 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in shares of New Relic during the fourth quarter valued at about $40,000. IFP Advisors Inc grew its stake in shares of New Relic by 1,120.3% during the fourth quarter. IFP Advisors Inc now owns 720 shares of the software maker’s stock valued at $58,000 after acquiring an additional 661 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in shares of New Relic during the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 81.28% 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.

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