Freshworks (NASDAQ:FRSH) Releases Q4 Earnings Guidance

Freshworks (NASDAQ:FRSH) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.09-0.10 for the period, compared to the consensus EPS estimate of $0.08. The company issued revenue guidance of $187.8-190.8 million, compared to the consensus revenue estimate of $189.27 million. Freshworks also updated its FY 2024 guidance to 0.380-0.390 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler lifted their price objective on shares of Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays decreased their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Scotiabank cut their price objective on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.69.

Freshworks Stock Down 2.3 %

Shares of NASDAQ:FRSH traded down $0.38 during trading on Friday, hitting $16.44. 10,459,693 shares of the company traded hands, compared to its average volume of 3,578,957. Freshworks has a one year low of $10.81 and a one year high of $24.98. The business’s fifty day moving average is $11.64 and its 200-day moving average is $12.61.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Freshworks had a negative return on equity of 8.66% and a negative net margin of 14.80%. The company had revenue of $186.58 million for the quarter, compared to analysts’ expectations of $181.50 million. Analysts predict that Freshworks will post -0.38 EPS for the current year.

Insider Transactions at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the transaction, the director now owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the sale, the director now directly owns 22,530 shares in the company, valued at $259,996.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the transaction, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,153 shares of company stock worth $459,383. Company insiders own 19.15% of the company’s stock.

About Freshworks

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.