NEWR Stock Recent News

Investors with an interest in Internet - Software stocks have likely encountered both Meta Platforms (META) and New Relic (NEWR). But which of these two companies is the best option for those looking for undervalued stocks?

Buyout firms Francisco Partners and TPG saved hundreds of millions of dollars in their $6.5 billion deal to buy New Relic by walking away from negotiations with the business software company in May and then returning two months later with a lower offer, people familiar with the matter said.

HMI Capital Management, L.P. (Trades, Portfolio), a San Francisco-based investment firm, has recently expanded its portfolio by acquiring an additional 3,079 shares of New Relic Inc ( NEWR , Financial).

New Relic shares took off on Monday after the software company announced it has agreed to be acquired by investment firms Francisco Partners and TPG for $87 per share in cash, valuing the company at approximately $6.5 billion. The company said in a statement that this purchase price represents a premium of about 26% to New Relic's 30-day volume weighted average closing price ending on July 28, 2023.

Shares of software firm New Relic (NYSE: NEWR ) drove significantly higher on Monday following the announcement of a private equity deal. According to Investor's Business Daily, Francisco Partners and TPG (NASDAQ: TPG ) jointly declared plans to acquire New Relic and take it private.

New Relic (NEWR) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to loss of $0.26 per share a year ago.

New Relic, the San Francisco-based observability software company, has reached an agreement with private equity firms TPG and Francisco Partners to go private in a $6.5 billion all-cash deal.

The consortium offered $87 per share in an all-cash deal to take New Relic private on Monday.

Shares of New Relic Inc. NEWR, +1.44% shot up 12.8% in premarket trading Monday, after the “observability” platform for software engineers announced a deal to be acquired by investment firms Francisco Partners and TPG Inc. TPG, +0.91% in a deal valued at about $6.5 billion. Under terms of the deal, each New Relic share would be exchanged for $87 in cash, which represents a 17.5% premium to Friday's closing price of $74.05.

SAN FRANCISCO--(BUSINESS WIRE)-- #earnings--New Relic (NYSE: NEWR), the all-in-one observability platform for every engineer, announced it will report its financial results for fiscal year 2024 first quarter, which ended June 30, 2023, after market close on Tuesday, August 8, 2023. The company will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET to review the financial results and business outlook with the investment community. A live webcast and replay of the event will be available on the New Relic.