New Relic (NEWR) Issues Q3 2019 Earnings Guidance

New Relic (NYSE:NEWR) updated its third quarter 2019 earnings guidance on Tuesday. The company provided EPS guidance of $0.12-0.13 for the period, compared to the Thomson Reuters consensus EPS 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 research analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of New Relic from $117.00 to $110.00 and set an outperform rating on the stock in a research report on Wednesday. First Analysis upgraded shares of New Relic from an outperform rating to a strong-buy rating and boosted their price target for the stock from $114.00 to $116.00 in a research report on Wednesday. ValuEngine downgraded 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 on the stock 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 target price on the stock in a research report on Tuesday, October 23rd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $97.71.

NEWR opened at $96.11 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 3.83 and a current ratio of 3.83. New Relic has a 1-year low of $51.57 and a 1-year high of $114.78. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of -129.88 and a beta of 0.82.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, November 6th. The software maker reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). New Relic had a negative return on equity of 8.61% and a negative net margin of 6.93%. The business had revenue of $114.90 million for the quarter, compared to analyst estimates of $112.26 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The business’s quarterly revenue was up 35.7% on a year-over-year basis. On average, equities research analysts anticipate that New Relic will post -0.38 earnings per share for the current year.

In other news, CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $98.81, for a total value of $8,794,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James R. Gochee sold 5,826 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $103.34, for a total transaction of $602,058.84. Following the completion of the sale, the insider now owns 317,376 shares of the company’s stock, valued at approximately $32,797,635.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 428,242 shares of company stock worth $40,887,416. Corporate insiders own 20.40% of the company’s stock.

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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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