New Relic (NEWR) Releases FY 2019 Earnings Guidance

New Relic (NYSE:NEWR) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.42-0.48 for the period, compared to the Thomson Reuters consensus earnings per share 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.

Shares of NYSE:NEWR traded up $12.00 during trading on Wednesday, reaching $98.07. The company had a trading volume of 973,001 shares, compared to its average volume of 881,866. The firm has a market cap of $4.92 billion, a P/E ratio of -132.53 and a beta of 0.82. New Relic has a twelve month low of $50.27 and a twelve month high of $114.78. 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 (NYSE:NEWR) last released its quarterly earnings results on Tuesday, November 6th. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.08. The business had revenue of $114.90 million for the quarter, compared to analyst estimates of $112.26 million. New Relic had a negative net margin of 9.13% and a negative return on equity of 12.19%. The firm’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Equities research analysts forecast that New Relic will post -0.38 EPS for the current year.

NEWR has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective 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 raised shares of New Relic from an outperform rating to a strong-buy rating and raised their price objective for the stock from $114.00 to $116.00 in a report on Wednesday. ValuEngine cut shares of New Relic from a buy rating to a hold rating in a research report on Tuesday. Zacks Investment Research upgraded shares of New Relic from a hold rating to a strong-buy rating and set a $94.00 target price for the company in a research report on Friday, October 26th. Finally, DA Davidson upgraded shares of New Relic from a neutral rating to a buy rating and set a $105.00 price objective for the company in a research report on Tuesday, October 23rd. They noted that the move was a valuation call. Eight 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. The stock has an average rating of Buy and a consensus price target of $97.71.

In other news, Director Peter H. Fenton sold 51,971 shares of the firm’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 of the company’s stock, valued at approximately $16,855.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark Sachleben sold 22,500 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $84.10, for a total value of $1,892,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,742 shares of company stock worth $41,658,041. 20.40% of the stock is owned by company insiders.

WARNING: This article was posted by WKRB News and is the sole property of of WKRB News. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.wkrb13.com/2018/11/07/new-relic-newr-releases-fy-2019-earnings-guidance.html.

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.

See Also: Cost of Capital

Earnings History and Estimates for New Relic (NYSE:NEWR)

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply