New Relic (NEWR) Releases FY 2019 Earnings Guidance

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New Relic (NYSE:NEWR) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.42-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.45. The company issued revenue guidance of $466.5-469.5 million, compared to the consensus revenue estimate of $462.82 million.New Relic also updated its FY19 guidance to $0.42-0.48 EPS.

NYSE NEWR remained flat at $$86.07 on Tuesday. The company’s stock had a trading volume of 766,802 shares, compared to its average volume of 881,866. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 1.28. New Relic has a 52-week low of $50.27 and a 52-week high of $114.78. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of -116.31 and a beta of 0.82.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. The firm had revenue of $108.22 million for the quarter, compared to analyst estimates of $106.09 million. As a group, research analysts expect that New Relic will post -0.38 EPS for the current year.

A number of research analysts have commented on NEWR shares. DA Davidson raised New Relic from a neutral rating to a buy rating and set a $105.00 price objective on the stock in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Needham & Company LLC upped their price objective on New Relic from $121.00 to $129.00 and gave the company a buy rating in a report on Wednesday, August 8th. ValuEngine lowered New Relic from a strong-buy rating to a buy rating in a report on Monday, July 30th. Zacks Investment Research raised New Relic from a hold rating to a buy rating and set a $118.00 price objective on the stock in a report on Tuesday, August 14th. Finally, TheStreet raised New Relic from a d rating to a c rating in a report on Thursday, August 23rd. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $97.00.

In other news, Director Peter H. Fenton sold 51,971 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $109.45, for a total transaction of $5,688,225.95. Following the completion of the sale, the director now directly owns 154 shares in the company, valued at approximately $16,855.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $88.23, for a total value of $7,852,470.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,742 shares of company stock valued at $41,658,041. Corporate insiders own 20.40% of the company’s stock.

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About New Relic

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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