On May 26, 2023, it was reported that private-equity firms, Francisco Partners and TPG, had been in discussions to purchase software company, New Relic, for a sum exceeding $5 billion. Unfortunately, the negotiations have come to an end due to the firms’ inability to secure sufficient debt. New Relic had been in talks with potential acquirers since the previous year, and it’s possible that other suitors may step forward to resume deal talks. Francisco Partners and TPG are renowned for purchasing public companies and successfully turning them around. Based in San Francisco, New Relic specializes in developing cloud-based software that enables website and application owners to monitor the performance of their services.
NEWR Stock Performance on May 26, 2023: Mixed Results with Positive Earnings Growth Forecast
On May 26, 2023, NEWR stock opened at $81.50, which was higher than the previous day’s close of $78.24. The day’s trading range was between $73.65 and $82.29, and the volume was 1,076,253 shares. The average volume for the last three months was 675,706 shares. The market capitalization of NEWR was $5.9 billion.
NEWR is a technology services company in the packaged software industry. Its corporate headquarters are located in San Francisco, California. The next reporting date for NEWR is August 2, 2023, and the EPS forecast for this quarter is $0.32. NEWR’s annual revenue for the last year was $785.5 million, and the annual profit was -$250.4 million. The net profit margin was -31.88%.
NEWR’s stock performance on May 26, 2023, was mixed. Although the stock opened higher than the previous day’s close, it traded within a wide range, with the low end being significantly lower than the previous day’s close. The volume was higher than the average volume for the last three months, indicating increased interest in the stock. The earnings growth for this year and the next five years is positive, which could be a positive sign for investors. However, the negative net profit margin and the annual loss could be a concern for some investors. Overall, NEWR’s stock performance on May 26, 2023, was a mixed bag, and investors will need to closely monitor the company’s financial performance to make informed investment decisions.
New Relic Inc: Potential 18.50% Increase in Stock Price Forecasted by Analysts
On May 26, 2023, New Relic Inc (NEWR) stock saw a median target price forecast of $88.00, with a high estimate of $95.00 and a low estimate of $73.00. This implies a potential increase of 18.50% from the last price of $74.26. The consensus among 18 polled investment analysts is to hold stock in New Relic Inc.
The current quarter earnings per share for NEWR stock is $0.32, with sales of $239.1M. The reporting date for these earnings is August 02, 2023.
New Relic Inc is a cloud-based software analytics company that provides real-time insights into the performance of applications and infrastructure. The company’s platform helps businesses improve their digital customer experience by monitoring and analyzing their software systems in real-time.
The company has seen steady growth in recent years, with revenues increasing from $479.4M in 2019 to $572.2M in 2020. The company’s revenue growth has been driven by an increase in its customer base, which now includes over 18,000 customers worldwide.
New Relic Inc has also been expanding its product offerings to include new features and capabilities, such as its AI-powered incident response tool, New Relic Applied Intelligence. This tool uses machine learning algorithms to analyze data and identify potential issues before they become critical problems.
Overall, the future looks bright for New Relic Inc, with analysts predicting a potential increase in stock price. The company’s focus on innovation and expanding its product offerings should continue to drive growth in the coming years. Investors should keep an eye on the company’s earnings report on August 02, 2023.
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