Analysts forecast that New Relic Inc (NYSE:NEWR) will announce $89.37 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for New Relic’s earnings, with the lowest sales estimate coming in at $89.10 million and the highest estimate coming in at $89.60 million. New Relic reported sales of $68.10 million during the same quarter last year, which indicates a positive year over year growth rate of 31.2%. The firm is expected to report its next earnings results after the market closes on Tuesday, February 6th.

On average, analysts expect that New Relic will report full-year sales of $89.37 million for the current financial year, with estimates ranging from $347.90 million to $349.80 million. For the next financial year, analysts forecast that the business will report sales of $440.47 million per share, with estimates ranging from $435.38 million to $445.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover New Relic.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The firm had revenue of $84.68 million during the quarter, compared to the consensus estimate of $82.98 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The business’s revenue was up 33.5% on a year-over-year basis.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. downgraded New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a research report on Tuesday, December 12th. KeyCorp reaffirmed an “overweight” rating and set a $57.00 price target (up previously from $52.00) on shares of New Relic in a research report on Wednesday, November 8th. BMO Capital Markets began coverage on New Relic in a research report on Friday, January 12th. They set a “market perform” rating and a $68.00 price target for the company. BidaskClub downgraded New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, UBS Group began coverage on New Relic in a report on Thursday, November 9th. They issued a “neutral” rating and a $53.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.21.

In related news, CFO Mark Sachleben sold 5,000 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $52.40, for a total value of $262,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lewis Cirne sold 33,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $51.15, for a total value of $1,687,950.00. The disclosure for this sale can be found here. In the last three months, insiders sold 178,139 shares of company stock valued at $9,968,335. 23.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC raised its stake in New Relic by 11.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock valued at $500,000 after acquiring an additional 1,025 shares during the period. Voya Investment Management LLC raised its stake in New Relic by 58.2% in the 2nd quarter. Voya Investment Management LLC now owns 13,072 shares of the software maker’s stock valued at $562,000 after acquiring an additional 4,807 shares during the period. JPMorgan Chase & Co. raised its stake in New Relic by 31.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 94,229 shares of the software maker’s stock valued at $4,052,000 after acquiring an additional 22,460 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in New Relic in the 2nd quarter valued at $1,734,000. Finally, Ardsley Advisory Partners bought a new stake in New Relic in the 2nd quarter valued at $430,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

New Relic (NYSE NEWR) traded up $0.40 during trading hours on Friday, reaching $58.15. The company’s stock had a trading volume of 483,659 shares, compared to its average volume of 287,051. New Relic has a 52-week low of $32.18 and a 52-week high of $60.97. The firm has a market cap of $3,179.85, a P/E ratio of -51.92 and a beta of 1.03.

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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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