New Relic Inc (NEWR) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.23. The company posted revenue of $58.60 million in the period, compared to analysts expectations of $56.95 million. The company’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.
Many Wall Street Analysts have commented on New Relic Inc. Robert W. Baird Initiated New Relic Inc on May 13, 2016 to “Neutral”, Price Target of the shares are set at $30.
New Relic Inc closed down -0.56 points or -1.60% at $34.44 with 6,01,966 shares getting traded on Friday. Post opening the session at $35, the shares hit an intraday low of $34.11 and an intraday high of $35 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 1, 2016, Lewis Cirne (CEO) sold 39,000 shares at $33.87 per share price. According to the SEC, on Jul 28, 2016, Hilarie A. Koplow (President) sold 17,404 shares at $34.95 per share price. On Jul 25, 2016, Mark Sachleben (Chief Financial Officer) sold 3,500 shares at $33.84 per share price, according to the Form-4 filing with the securities and exchange commission.
New Relic Inc. (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enables organizations to collect store and analyze software data in real time. The Company’s Software Analytics solution consists of an integrated suite of products a data database and an open platform. Its products for technology users focus on software performance management and monitoring. New Relic offers an integrated suite of seven products namely New Relic APM for application performance management; New Relic Mobile mobile application performance management; New Relic Servers for server monitoring for cloud and data centers; New Relic Browser for end user experience monitoring and performance monitoring; New Relic Synthetics for software testing through simulated usage; New Relic Plugins plugins to extend its functionality into other applications and New Relic Insights for real-time big data analytics for business managers.