Equities research analysts expect that New Relic Inc (NYSE:NEWR) will report ($0.28) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for New Relic’s earnings, with estimates ranging from ($0.08) to ($0.07). New Relic reported earnings per share of ($0.09) during the same quarter last year, which suggests a negative year over year growth rate of 211.1%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, February 6th.

According to Zacks, analysts expect that New Relic will report full year earnings of ($0.22) per share for the current year, with EPS estimates ranging from ($0.23) to ($0.21). For the next year, analysts anticipate that the firm will report earnings of $0.23 per share, with EPS estimates ranging from $0.14 to $0.30. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for New Relic.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $84.68 million for the quarter, compared to analysts’ expectations of $82.98 million. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year.

A number of brokerages recently issued reports on NEWR. JMP Securities boosted their price objective on New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. JPMorgan Chase & Co. cut New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Tuesday, December 12th. Morgan Stanley boosted their price objective on New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. BMO Capital Markets initiated coverage on New Relic in a research note on Friday, January 12th. They issued a “market perform” rating and a $68.00 price objective on the stock. Finally, BidaskClub cut New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.21.

In other news, insider James R. Gochee sold 5,746 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $54.26, for a total transaction of $311,777.96. Following the completion of the transaction, the insider now owns 343,912 shares of the company’s stock, valued at $18,660,665.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James R. Gochee sold 428 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $59.10, for a total value of $25,294.80. Following the transaction, the insider now directly owns 337,904 shares of the company’s stock, valued at approximately $19,970,126.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,139 shares of company stock worth $9,968,335. Company insiders own 23.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Crow Point Partners LLC purchased a new position in shares of New Relic during the fourth quarter worth about $113,000. Ameritas Investment Partners Inc. grew its holdings 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 purchased a new position in shares of New Relic during the second quarter worth about $118,000. BNP Paribas Arbitrage SA grew its holdings in shares of New Relic by 507.2% during the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after purchasing an additional 3,185 shares in the last quarter. Finally, Cipher Capital LP purchased a new position in shares of New Relic during the third quarter worth about $212,000. 77.08% of the stock is owned by institutional investors.

Shares of New Relic (NYSE:NEWR) opened at $57.93 on Thursday. New Relic has a 52 week low of $31.39 and a 52 week high of $60.97. The stock has a market capitalization of $3,190.00, a PE ratio of -52.19 and a beta of 1.03.

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About New Relic

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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