Wall Street analysts predict that New Relic Inc (NYSE:NEWR) will report sales of $144.27 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for New Relic’s earnings, with the lowest sales estimate coming in at $143.13 million and the highest estimate coming in at $145.60 million. New Relic posted sales of $114.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.6%. The business is expected to announce its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that New Relic will report full year sales of $603.87 million for the current fiscal year, with estimates ranging from $600.85 million to $608.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $749.39 million, with estimates ranging from $734.10 million to $760.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow New Relic.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, August 6th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. The firm had revenue of $141.01 million during the quarter, compared to analyst estimates of $139.73 million. During the same period in the previous year, the business posted $0.15 EPS. New Relic’s revenue was up 30.3% on a year-over-year basis.

A number of research firms have commented on NEWR. Wedbush restated an “outperform” rating and set a $99.00 price target (down from $124.00) on shares of New Relic in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target on shares of New Relic from $104.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday. Oppenheimer dropped their price target on shares of New Relic from $125.00 to $109.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC set a $120.00 price target on shares of New Relic and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, First Analysis downgraded shares of New Relic from a “strong-buy” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $99.07.

Shares of NEWR stock traded down $0.40 during midday trading on Friday, reaching $57.00. 1,488,148 shares of the company were exchanged, compared to its average volume of 992,942. New Relic has a 12 month low of $55.60 and a 12 month high of $113.34. The company has a market cap of $3.32 billion, a P/E ratio of -183.94 and a beta of 0.83. The company’s 50 day moving average price is $81.84 and its two-hundred day moving average price is $95.74. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.88 and a current ratio of 2.88.

In other news, CFO Mark Sachleben sold 2,295 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $58.95, for a total transaction of $135,290.25. Following the sale, the chief financial officer now owns 1,834 shares in the company, valued at $108,114.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Erica Schultz sold 2,154 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $58.97, for a total transaction of $127,021.38. Following the sale, the executive now owns 22,002 shares in the company, valued at approximately $1,297,457.94. The disclosure for this sale can be found here. Insiders sold a total of 133,904 shares of company stock worth $11,498,947 over the last quarter. Insiders own 17.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its position in New Relic by 58.4% in the first quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock worth $35,000 after acquiring an additional 132 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in New Relic in the first quarter worth approximately $42,000. Point72 Hong Kong Ltd bought a new stake in New Relic in the second quarter worth approximately $55,000. Flinton Capital Management LLC grew its position in New Relic by 51.9% in the second quarter. Flinton Capital Management LLC now owns 656 shares of the software maker’s stock worth $57,000 after acquiring an additional 224 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in New Relic by 255.8% in the first quarter. Victory Capital Management Inc. now owns 587 shares of the software maker’s stock worth $58,000 after acquiring an additional 422 shares in the last quarter. Institutional investors and hedge funds own 74.72% 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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Earnings History and Estimates for New Relic (NYSE:NEWR)

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