Freshworks (NASDAQ:FRSH) Updates Q4 2024 Earnings Guidance

Freshworks (NASDAQ:FRSH) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.090-0.100 for the period, compared to the consensus earnings per share estimate of 0.080. The company issued revenue guidance of $187.8 million-$190.8 million, compared to the consensus revenue estimate of $189.2 million. Freshworks also updated its FY 2024 guidance to 0.380-0.390 EPS.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FRSH shares. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research note on Thursday. Barclays dropped their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Robert W. Baird cut their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday. Scotiabank decreased their target price 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. Finally, Jefferies Financial Group cut their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $18.69.

Freshworks Stock Down 2.3 %

NASDAQ:FRSH traded down $0.38 on Friday, reaching $16.44. 10,459,693 shares of the company’s stock were exchanged, compared to its average volume of 3,578,957. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -48.35 and a beta of 0.72. Freshworks has a 52-week low of $10.81 and a 52-week high of $24.98. The business has a fifty day moving average of $11.64 and a 200-day moving average of $12.57.

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

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the transaction, the director now owns 23,497 shares in the company, valued at $286,428.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the sale, the director now directly owns 36,689 shares of the company’s stock, valued at $405,780.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of Freshworks 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 transaction, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,153 shares of company stock valued at $459,383 in the last three months. 19.15% of the stock is owned by corporate 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.