New Relic (NYSE:NEWR – Get Free Report) posted its quarterly earnings data on Friday. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12, Briefing.com reports. New Relic had a negative return on equity of 13.21% and a negative net margin of 14.92%. The company had revenue of $242.80 million during the quarter, compared to analysts’ expectations of $250.58 million. During the same quarter in the previous year, the business earned $0.13 EPS. New Relic’s revenue was up 7.0% compared to the same quarter last year.
New Relic Trading Up 0.3 %
NEWR opened at $86.68 on Monday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of -41.47 and a beta of 0.84. New Relic has a 12 month low of $50.30 and a 12 month high of $86.81. The stock has a fifty day moving average price of $85.55 and a 200-day moving average price of $77.83.
Insider Transactions at New Relic
In other news, insider Thomas J. Lloyd sold 1,314 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $84.00, for a total value of $110,376.00. Following the completion of the transaction, the insider now directly owns 6,540 shares of the company’s stock, valued at approximately $549,360. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Thomas J. Lloyd sold 1,314 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $84.00, for a total transaction of $110,376.00. Following the transaction, the insider now directly owns 6,540 shares of the company’s stock, valued at approximately $549,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William Staples sold 8,658 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $84.04, for a total value of $727,618.32. Following the transaction, the chief executive officer now directly owns 123,243 shares in the company, valued at $10,357,341.72. The disclosure for this sale can be found here. In the last three months, insiders sold 19,510 shares of company stock valued at $1,639,502. Corporate insiders own 23.00% of the company’s stock.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on NEWR. Robert W. Baird cut New Relic from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $87.00 in a report on Tuesday, August 1st. DA Davidson cut New Relic from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $95.00 to $87.00 in a report on Thursday, September 14th. Loop Capital boosted their price objective on New Relic from $80.00 to $87.00 and gave the company a “hold” rating in a report on Tuesday, August 1st. Royal Bank of Canada cut New Relic from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $95.00 to $87.00 in a report on Monday, July 31st. Finally, TD Cowen boosted their price objective on New Relic from $73.00 to $87.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, New Relic presently has an average rating of “Hold” and an average target price of $83.21.
New Relic Company Profile
New Relic, Inc, a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data.
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