New Relic (NEWR) Releases Q3 2019 Earnings Guidance

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New Relic (NYSE:NEWR) updated its third quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.12-0.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.09. The company issued revenue guidance of $118.5-120.5 million, compared to the consensus revenue estimate of $117.68 million.New Relic also updated its FY 2019 guidance to $0.42-0.48 EPS.

A number of analysts have weighed in on NEWR shares. BMO Capital Markets reduced their price target on shares of New Relic from $117.00 to $110.00 and set an outperform rating for the company in a report on Wednesday. First Analysis upgraded shares of New Relic from an outperform rating to a strong-buy rating and increased their target price for the stock from $114.00 to $116.00 in a research report on Wednesday. Zacks Investment Research cut shares of New Relic from a strong-buy rating to a hold rating in a research report on Wednesday, October 10th. ValuEngine cut shares of New Relic from a buy rating to a hold rating in a research report on Tuesday. Finally, TheStreet upgraded shares of New Relic from a d rating to a c rating in a research report on Thursday, August 23rd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. New Relic presently has a consensus rating of Buy and a consensus target price of $97.71.

Shares of New Relic stock traded up $12.00 on Wednesday, reaching $98.07. 973,001 shares of the company’s stock were exchanged, compared to its average volume of 881,866. New Relic has a 52 week low of $50.27 and a 52 week high of $114.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -132.53 and a beta of 0.82.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, November 6th. The software maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. The business had revenue of $114.90 million for the quarter, compared to analysts’ expectations of $112.26 million. During the same period last year, the business earned ($0.06) EPS. The business’s revenue was up 35.7% on a year-over-year basis. On average, equities research analysts forecast that New Relic will post -0.38 EPS for the current year.

In other New Relic news, insider James R. Gochee sold 508 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $101.48, for a total value of $51,551.84. Following the completion of the transaction, the insider now owns 311,454 shares in the company, valued at approximately $31,606,351.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lewis Cirne sold 89,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $98.81, for a total value of $8,794,090.00. The disclosure for this sale can be found here. In the last three months, insiders sold 435,742 shares of company stock valued at $41,658,041. 20.40% of the stock is currently owned by insiders.

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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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