Freshworks (NASDAQ:FRSH) Issues Q4 Earnings Guidance

Freshworks (NASDAQ:FRSH) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.09-0.10 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Scotiabank lowered their price target 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. Barclays decreased their price target on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler lifted their target price on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research report on Thursday. Finally, Robert W. Baird reduced their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $18.69.

Freshworks Stock Performance

FRSH traded down $0.38 during midday 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 52-week low of $10.81 and a 52-week high of $24.98. The business has a 50 day simple moving average of $11.64 and a two-hundred day simple moving average of $12.61.

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

Insider Activity

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.23, for a total transaction of $52,668.70. Following the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at $402,629.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.23, for a total value of $52,668.70. Following the sale, the director now owns 35,853 shares of the company’s stock, valued at $402,629.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the director now directly owns 35,853 shares of the company’s stock, valued at $400,478.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,153 shares of company stock valued at $459,383. 19.15% of the stock is currently owned by insiders.

Freshworks Company Profile

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.