Why is New Relic stock crashing today?
In the meantime, New Relic is putting its weight behind the top-line growth target, taking on dramatically higher costs of doing business as the monitoring platform grows. Some investors appear to be uncomfortable with the bottom-line pain that comes with this rapid-growth approach, which is why the stock is cratering today.
Is New Relic’s long-term sales growth outlook shifting?
New Relic is still aiming for year-over-year sales growth in the 25% range for the long haul, but the shifting contract model is pushing that long-term target a few quarters down the road.
Are investors unhappy with New Relic's earnings guidance?
But investors were probably unhappy with the company's earnings guidance for the upcoming year. New Relic's management said its adjusted loss per share will be in the range of $0.37 and $0.31, far worse than analysts' consensus average of a loss of $0.10 per share.
Is New Relic's active customer count trending in the right direction?
Adding to some investor disappointment today could be that New Relic's active customer count hasn't exactly been trending in the right direction. In the first quarter of 2021, the company had 15,400 active customers, but it ended 2022 with 14,800 customers.
What happened to New Relic?
New Relic stock cratered. The company reported an adjusted loss of 18 cents a share on revenue of $204 million. Analysts expected New Relic to report a loss of 17 cents on revenue of $200.3 million, according to FactSet.
Will New Relic stock go up?
The 8 analysts offering 12-month price forecasts for New Relic Inc have a median target of 64.50, with a high estimate of 85.00 and a low estimate of 45.00. The median estimate represents a +32.63% increase from the last price of 48.63.
Is New Relic a good stock to buy?
New Relic has received a consensus rating of Hold. The company's average rating score is 2.43, and is based on 3 buy ratings, 4 hold ratings, and no sell ratings.
Is New Relic a good company to work for?
91% of employees at New Relic say it is a great place to work compared to 57% of employees at a typical U.S.-based company. Source: Great Place to Work® 2021 Global Employee Engagement Study. When you join the company, you are made to feel welcome. People care about each other here.
How many customers does New Relic have?
New Relic Announces First Quarter Fiscal Year 2022 ResultsJun-20Sep-201Q212Q21Active Customer Accounts15,40014,500Active Customer Accounts >$100,000862894Percentage of Revenue from Active Customer Accounts >$100,00076%77%1 more row•Aug 3, 2021
Is NEWR stock a buy?
The consensus among 9 Wall Street analysts covering (NYSE: NEWR) stock is to Strong Buy NEWR stock.
How many employees does New Relic have?
1,934New Relic is a San Francisco, California-based technology company which develops cloud-based software to help website and application owners track the performances of their services. New Relic, Inc....New Relic.TypePublic companyRevenue$667.7 million (March 2021)Number of employees1,934 (June 2021)Websitenewrelic.com8 more rows
What is New Relic used for?
New Relic is a Software as a Service offering that focuses on performance and availability monitoring. It uses a standardized Apdex (application performance index) score to set and rate application performance across the environment in a unified manner.
Who is the CEO of New Relic?
Bill Staples (Jul 1, 2021–)New Relic / CEO