Freshworks (NASDAQ:FRSH) Releases Q4 Earnings Guidance

Freshworks (NASDAQ:FRSH) updated 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.

Freshworks Stock Down 2.3 %

Shares of FRSH stock traded down $0.38 on Friday, hitting $16.44. The company’s stock had a trading volume of 10,459,693 shares, compared to its average volume of 3,578,957. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The firm’s fifty day moving average price is $11.64 and its 200-day moving average price is $12.61.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $181.50 million. Sell-side analysts anticipate that Freshworks will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FRSH has been the subject of several research analyst reports. Barclays cut their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their target price on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird dropped their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group increased their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating 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, the company has a consensus rating of “Moderate Buy” and an average target price of $18.69.

Insiders Place Their Bets

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the transaction, the director now directly owns 22,530 shares in the company, valued at $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Zachary Nelson sold 8,433 shares of the business’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 transaction, the director now directly owns 22,530 shares of the company’s stock, valued at $259,996.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.23, for a total value of $52,668.70. Following the completion of the transaction, the director now owns 35,853 shares of the company’s stock, valued at approximately $402,629.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,153 shares of company stock worth $459,383 over the last three months. 19.15% of the stock is currently owned by corporate insiders.

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.