Freshworks (NASDAQ:FRSH) Issues Q4 2024 Earnings Guidance

by · The Markets Daily

Freshworks (NASDAQ:FRSH – Get Free Report) 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.

Freshworks Price Performance

FRSH stock traded up $0.65 on Wednesday, reaching $13.09. The company’s stock had a trading volume of 5,138,267 shares, compared to its average volume of 2,682,004. Freshworks has a 52 week low of $10.81 and a 52 week high of $24.98. The company has a market capitalization of $3.95 billion, a P/E ratio of -35.54 and a beta of 0.72. The firm has a fifty day moving average of $11.42 and a two-hundred day moving average of $12.59.

Analysts Set New Price Targets

Several research firms recently weighed in on FRSH. Piper Sandler reduced their price objective on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of Freshworks in a research note on Wednesday, October 16th. They set an “equal weight” rating and a $11.00 price objective on the stock. Scotiabank cut their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays lowered their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $17.54.

Check Out Our Latest Stock Analysis on Freshworks

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the completion of the transaction, the director now directly owns 23,497 shares of the company’s stock, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction 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 approximately $286,428.43. This represents 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 Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction on 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 owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,456 shares of company stock valued at $530,102. 19.15% of the stock is currently owned by company insiders.

Freshworks Company Profile

(Get Free Report)

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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