Equities analysts forecast that New Relic, Inc. (NYSE:NEWR) will announce earnings of ($0.10) per share for the current quarter, Zacks reports. Five analysts have provided estimates for New Relic’s earnings. The highest EPS estimate is ($0.09) and the lowest is ($0.10). New Relic posted earnings of ($0.09) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 11.1%. The company is scheduled to report its next earnings report on Monday, November 6th.

According to Zacks, analysts expect that New Relic will report full-year earnings of ($0.25) per share for the current fiscal year, with EPS estimates ranging from ($0.26) to ($0.23). For the next financial year, analysts forecast that the company will post earnings of $0.22 per share, with EPS estimates ranging from $0.13 to $0.28. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The firm had revenue of $80.10 million for the quarter, compared to analyst estimates of $78.09 million. During the same quarter in the prior year, the company earned ($0.20) EPS. New Relic’s revenue was up 36.7% on a year-over-year basis.

NEWR has been the topic of a number of research analyst reports. Morgan Stanley cut New Relic from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $45.00 to $48.00 in a report on Thursday, July 20th. They noted that the move was a valuation call. BidaskClub cut New Relic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. First Analysis cut New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Friday, August 4th. UBS AG lifted their target price on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Finally, Robert W. Baird set a $55.00 target price on New Relic and gave the company a “buy” rating in a report on Monday, September 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. New Relic presently has an average rating of “Buy” and a consensus target price of $49.17.

In other New Relic news, CFO Mark Sachleben sold 5,000 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $47.69, for a total transaction of $238,450.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lewis Cirne sold 33,000 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $44.53, for a total value of $1,469,490.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,982 shares of company stock worth $9,301,202. 23.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of NEWR. Ameritas Investment Partners Inc. lifted its stake in shares of New Relic by 50.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock worth $111,000 after purchasing an additional 862 shares in the last quarter. ETF Managers Group LLC acquired a new position in shares of New Relic in the second quarter worth about $118,000. Botty Investors LLC lifted its stake in shares of New Relic by 23.5% in the second quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after acquiring an additional 535 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after acquiring an additional 3,185 shares in the last quarter. Finally, BT Investment Management Ltd acquired a new position in shares of New Relic in the second quarter worth about $186,000. Institutional investors own 74.80% of the company’s stock.

New Relic (NYSE:NEWR) opened at 49.80 on Friday. The firm’s market cap is $2.71 billion. New Relic has a 1-year low of $27.85 and a 1-year high of $51.31. The company’s 50-day moving average price is $47.31 and its 200 day moving average price is $43.08.

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New Relic Company Profile

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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