New Relic, Inc. (NYSE:NEWR) is reporting second quarter earnings results on Thursday 5th November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.01 per share from $ 163.42 million in revenue.
For the full year, analysts predict revenues of $ 667.31 million, while looking forward to income of $ 0.16 per share.
The Company Outlook
Earnings for 2Q21 are anticipated in a range of $ -0.03 ~ $ 0.02 per share, while revenues are expected in a range of $ 163.00 million ~ $ 164.00 million
Click Here For More Historical Outlooks Of New Relic, Inc.
Previous Quarter Performance
New Relic, Inc. announced income for the first quarter of $ 0.15 per share, from the revenue of $ 162.59 million. The quarterly earnings decreased 21.05 percent compared with the same quarter last year. According to street consensus, NEWR was expected to report 1Q21 income of $ 0.03 per share from revenue of $ 159.40 million. The bottom line results beat street analysts by $ 0.12 or 400.00 percent, at the same time, top line results outshined analysts by $ 3.19 million or 2.00 percent.
Stock Performance
Shares of New Relic, Inc. traded up $ 1.67 or 2.72 percent on Wednesday, reaching $ 63.15 with volume of 556.70 thousand shares. New Relic, Inc. has traded high as $ 64.78 and has cracked $ 62.16 on the downward trend
The closing price of $ 63.15, representing a 83.58 % increase from the 52 week low of $ 33.49 and a 17.14 % decrease over the 52 week high of $ 74.20.
The company has a market capital of $ 3.80 billion and is part of the Technology sector and Software – Infrastructure industry.
Recent Analyst recommendations
- On 7th October 2020, initiated by Berenberg Bank at Buy rating, with $ 85.00 target price.
- On 16th September 2020, initiated by Loop Capital at Hold rating, with $ 60.00 target price.
Conference Call
New Relic, Inc. will be hosting a conference call at 5:00 PM eastern time on 5th November 2020, to discuss its 2Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.newrelic.com
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 Monitoring that provides visibility into the performance and usage of server-based applications, including 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.
