New Relic: Still Attractive After Post-Earnings Bull Run [Seeking Alpha]
New Relic, Inc. (NEWR)
Last new relic, inc. earnings: 2/4 04:05 pm
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US:NYSE Investor Relations:
ir.newrelic.com/investors-home/default.aspx
Company Research
Source: Seeking Alpha
SummaryNew Relic reported a strong Q4 with revenue growing 21% and remaining performance obligations growing 28%, both above expectations.The company provided Q1 guidance that was similar to expectations, though did not provide full year guidance, given the uncertain macroeconomic conditions.Even after the 25% post-earnings run, the stock remains attractive at only ~5.8x forward revenue, below other comparable software companies with 20%+ revenue growth and a path towards 25%+ operating margins.Even though New Relic (NYSE:NEWRManagement provided Q1 guidance that was pretty close to expectations, though could ultimately prove to be conservative as the company remains cautious in the uncertain macroeconomic environment. However, current expectations call for ~23% growth during the year, which I believe is beatable, considering the 28% growth seen in remaining performance obligations during the quarter. This metric is a great indicator for future revenue growth, and in addition to net re
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