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Oct 26, 2023 · New Relic is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth.
- What Happened
- So What
- Now What
Shares of enterprise-software company New Relic (NEWR)jumped on Wednesday after it reported financial results for the third quarter of its fiscal 2023. Adjusted profits came in much higher than Wall Street expected, and that's a leading reason New Relic stock was up 20% as of 11:40 a.m. ET.
New Relic's management had guided for Q3 revenue of up to $235 million. However, the company generated $239.8 million in Q3 revenue, well ahead of guidance and Wall Street's expectations. Even more impressive was New Relic's rapid improvements with profitability. The company's gross profit marginin Q3 was 74.4%, up dramatically from its 66.2% gross...
According to management, New Relic gained over 800 net new paying customers in Q3. To me, this is the most important takeaway from the company's report. Right now, many enterprises are cutting back or pausing spending on enterprise software. Moreover, New Relic has a free tier. Gaining that many paying customers in a time like this is an impressive...
- Jon Quast
Nov 13, 2022 · New Relic Revenues Beat Expectations, EPS Falls Short. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 4.8%. Looking ahead, revenue is forecast...
May 23, 2024 · Less than two months after being cut loose by Sega, which resulted in another round of layoffs at the studio, Company of Heroes developer Relic Entertainment says it is "returning to its roots...
- Andy Chalk
Nov 7, 2023 · Analyst Forecast. According to 14 analysts, the average rating for NEWR stock is "Hold." The 12-month stock price forecast is $85.36, which is a decrease of -1.87% from the latest price.
- 6.12B
- 967.64M
- 144.42M
- 70.30M
Nov 9, 2021 · Shares of software-as-a-service company New Relic ( NEWR) skyrocketed on Tuesday, rising as much as 40.2%. When the market closed, the shares were up 38.5%.
People also ask
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Mar 28, 2024 · Relic Entertainment will become an independent studio thanks to an external investor following its sale from SEGA, check out the details here.
