Earnings Report: Here’s what to expect from New Relic (NYSE:NEWR)

Earnings results for New Relic (NYSE:NEWR)

New Relic, Inc. is expected* to report earnings on 11/05/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.45. The reported EPS for the same quarter last year was $-0.16.

New Relic last released its quarterly earnings results on August 4th, 2020. The software maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.12. The company earned $163 million during the quarter, compared to the consensus estimate of $159.35 million. Its quarterly revenue was up 15.6% on a year-over-year basis. New Relic has generated ($1.08) earnings per share over the last year. New Relic has confirmed that its next quarterly earnings report will be published on Thursday, November 5th, 2020.

Analyst Opinion on New Relic (NYSE:NEWR)

19 Wall Street analysts have issued ratings and price targets for New Relic in the last 12 months. Their average twelve-month price target is $71.35, predicting that the stock has a possible upside of 12.99%. The high price target for NEWR is $89.00 and the low price target for NEWR is $56.00. There are currently 2 sell ratings, 8 hold ratings, 8 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Hold.”

New Relic has received a consensus rating of Hold. The company’s average rating score is 2.42, and is based on 8 buy ratings, 8 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $71.35, New Relic has a forecasted upside of 13.0% from its current price of $63.15. New Relic has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: New Relic (NYSE:NEWR)

New Relic does not currently pay a dividend. New Relic does not have a long track record of dividend growth.

Insiders buying/selling: New Relic (NYSE:NEWR)

In the past three months, New Relic insiders have sold 750.79% more of their company’s stock than they have bought. Specifically, they have bought $510,480.00 in company stock and sold $4,343,127.00 in company stock. Only 17.40% of the stock of New Relic is held by insiders. 90.27% of the stock of New Relic is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of New Relic (NYSE:NEWR

Earnings for New Relic are expected to grow in the coming year, from ($1.87) to ($1.34) per share. The P/E ratio of New Relic is -36.09, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of New Relic is -36.09, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. New Relic has a P/B Ratio of 9.58. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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