Freshworks (NASDAQ:FRSH – Get Free Report) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.07 to $0.08 for the period, compared to the consensus EPS estimate of $0.08. The company issued revenue guidance of $180.0 million to $183.0 million, compared to the consensus revenue estimate of $178.67 million. Freshworks also updated its FY24 guidance to $0.32 to $0.34 EPS.
Freshworks Stock Performance
Shares of NASDAQ FRSH traded down $0.03 during midday trading on Tuesday, hitting $13.28. 4,773,903 shares of the stock traded hands, compared to its average volume of 2,626,719. Freshworks has a one year low of $11.90 and a one year high of $24.98. The firm has a market capitalization of $3.97 billion, a P/E ratio of -33.17 and a beta of 0.74. The firm has a 50-day moving average of $12.88 and a two-hundred day moving average of $16.80.
Freshworks (NASDAQ:FRSH – Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $163.53 million. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. Equities analysts forecast that Freshworks will post -0.34 earnings per share for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Analysis on Freshworks
Insiders Place Their Bets
In other news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $12.75, for a total transaction of $107,635.50. Following the completion of the transaction, the director now directly owns 16,535 shares in the company, valued at approximately $210,821.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $12.28, for a total transaction of $57,531.80. Following the sale, the director now directly owns 35,853 shares in the company, valued at approximately $440,274.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $12.75, for a total transaction of $107,635.50. Following the completion of the transaction, the director now directly owns 16,535 shares of the company’s stock, valued at approximately $210,821.25. The disclosure for this sale can be found here. Insiders have sold a total of 34,296 shares of company stock valued at $443,630 in the last quarter. 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.
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