Freshworks (NASDAQ:FRSH) Updates Q4 Earnings Guidance

Freshworks (NASDAQ:FRSH) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.09-0.10 for the period, compared to the consensus 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 research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Thursday. Canaccord Genuity Group lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald decreased their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. 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 report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Freshworks Price Performance

Shares of NASDAQ:FRSH traded down $0.38 during trading 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. The company has a 50-day moving average of $11.64 and a 200-day moving average of $12.61. Freshworks has a 12 month low of $10.81 and a 12 month high of $24.98.

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

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the company’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 completion of the transaction, the director now directly owns 35,853 shares in the company, valued at $402,629.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated 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 directly owns 35,853 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the sale, the director now directly owns 23,497 shares in the company, valued at $286,428.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,153 shares of company stock worth $459,383. Corporate insiders own 19.15% of the company’s stock.

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.