NEWR Stock Recent News

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.

Limited growth, high valuation, and strong competition make paying a premium for New Relic, Inc. stock less appealing. Concerns about profitability: while there was improvement, future non-GAAP operating margins are not expected to be significantly higher, affecting underlying profits. I turn neutral on this stock.

New Relic is a strong buy due to its transition to a consumption-based business model, which has boosted margins and expansion potential. Whether standalone or as an acquisition target, New Relic's

New Relic, Inc. (NYSE:NEWR ) Q4 2023 Results Conference Call May 23, 2023 5:00 PM ET Company Participants Ingo Friedrichowitz - SVP, IR & Corporate Finance Bill Staples - Chief Executive Officer David Barter - Chief Financial Officer Conference Call Participants Rob Oliver - Baird Kingsley Crane - Canaccord Tim Pusnik-Jausovec - Credit Suisse Rishi Jaluria - RBC Erik Suppiger - JMP Securities Andrew Sherman - TD Cowen Sanjit Singh - Morgan Stanley Imtiaz Koujalgi - Wedbush Michael Turits - KeyBanc Mark Cash - Raymond James Operator Good afternoon. My name is Hannah, and I will be your conference operator today.

New Relic (NEWR) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to loss of $0.24 per share a year ago.

New Relic Inc. shares NEWR, -1.16% sank more than 7% in after-hours trading Tuesday, after the software company that is reportedly considering acquisition bids disappointed with its forecasts. In an earnings report delivered after the bell, New Relic executives predicted fiscal first-quarter revenue of $238 million to $240 million and annual sales of $1.02 billion to $1.03 billion, which would be the company's first billion-dollar annual revenue total.

New Relic (NEWR) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.