Analysts expect New Relic Inc (NYSE:NEWR) to announce sales of $120.11 million for the current quarter, according to Zacks. Eight analysts have made estimates for New Relic’s earnings, with the highest sales estimate coming in at $122.10 million and the lowest estimate coming in at $119.38 million. New Relic posted sales of $91.83 million during the same quarter last year, which suggests a positive year over year growth rate of 30.8%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that New Relic will report full-year sales of $469.05 million for the current financial year, with estimates ranging from $467.48 million to $473.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $591.29 million, with estimates ranging from $577.42 million to $603.70 million. Zacks’ sales calculations are an average based on a survey of analysts that follow New Relic.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). New Relic had a negative return on equity of 7.97% and a negative net margin of 6.93%. The business had revenue of $114.90 million during the quarter, compared to the consensus estimate of $112.26 million. During the same quarter last year, the firm posted ($0.06) earnings per share. New Relic’s revenue was up 35.7% compared to the same quarter last year.

A number of brokerages recently weighed in on NEWR. TheStreet raised New Relic from a “d” rating to a “c” rating in a research note on Thursday, August 23rd. Zacks Investment Research raised New Relic from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Tuesday, August 14th. Needham & Company LLC lifted their price target on New Relic from $121.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. BMO Capital Markets lifted their price target on New Relic from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Finally, Wedbush lifted their price target on New Relic from $116.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. New Relic presently has an average rating of “Buy” and an average price target of $103.47.

New Relic stock traded down $1.84 during midday trading on Thursday, hitting $74.79. The company’s stock had a trading volume of 1,253,900 shares, compared to its average volume of 745,630. The stock has a market cap of $4.83 billion, a PE ratio of -101.07 and a beta of 0.82. New Relic has a 12 month low of $55.91 and a 12 month high of $114.78. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25.

In other New Relic news, Director Peter H. Fenton sold 51,971 shares of New Relic stock in a transaction dated 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 transaction, the director now owns 154 shares of the company’s stock, valued at approximately $16,855.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lewis Cirne sold 89,000 shares of New Relic stock in a transaction dated Wednesday, September 5th. The shares were 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 ninety days, insiders have sold 444,484 shares of company stock worth $41,684,405. Company insiders own 20.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in shares of New Relic by 95.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock valued at $121,000 after buying an additional 584 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of New Relic by 84.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock valued at $133,000 after buying an additional 593 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of New Relic during the 3rd quarter valued at about $139,000. Ancora Advisors LLC acquired a new stake in shares of New Relic during the 3rd quarter valued at about $151,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of New Relic during the 2nd quarter valued at about $200,000. 76.17% of the stock is currently owned by institutional investors.

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.

Further Reading: Cost of Capital Explained

Get a free copy of the Zacks research report on New Relic (NEWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.