Freshworks (NASDAQ:FRSH) Releases 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Scotiabank cut 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. 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. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Freshworks in a report on Wednesday, July 31st. Finally, Jefferies Financial Group decreased their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $17.54.

Freshworks Price Performance

FRSH stock traded up $0.65 on Wednesday, reaching $13.09. 5,138,267 shares of the company were exchanged, compared to its average volume of 2,682,004. The firm has a market capitalization of $3.95 billion, a PE ratio of -35.54 and a beta of 0.72. Freshworks has a 12 month low of $10.81 and a 12 month high of $24.98. The stock’s fifty day moving average price is $11.42 and its 200 day moving average price is $12.59.

Insiders Place Their Bets

In related news, Director Zachary Nelson sold 8,433 shares of the 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 completion of the sale, the director now owns 22,530 shares in the company, valued at approximately $259,996.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $259,996.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the completion of the sale, the director now directly owns 223,106 shares in the company, valued at approximately $2,503,249.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,456 shares of company stock worth $530,102 in the last ninety days. 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.