Freshworks (NASDAQ:FRSH - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.320-0.350 for the period, compared to the consensus EPS estimate of 0.300. The company issued revenue guidance of $695.0 million-$705.0 million, compared to the consensus revenue estimate of $708.4 million. Freshworks also updated its FY24 guidance to $0.32-$0.35 EPS.
Freshworks Price Performance
FRSH traded up $0.40 on Wednesday, reaching $18.25. 3,502,451 shares of the stock were exchanged, compared to its average volume of 2,529,689. The company's 50-day moving average price is $18.57 and its 200 day moving average price is $20.05. Freshworks has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The firm has a market capitalization of $5.44 billion, a PE ratio of -38.83 and a beta of 0.90.
Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. The company had revenue of $160.11 million during the quarter, compared to analysts' expectations of $158.11 million. Freshworks had a negative return on equity of 12.55% and a negative net margin of 23.04%. As a group, equities analysts forecast that Freshworks will post -0.37 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Wolfe Research raised Freshworks from a peer perform rating to an outperform rating and set a $27.00 price objective for the company in a report on Tuesday, February 20th. JMP Securities boosted their price objective on Freshworks from $25.00 to $29.00 and gave the company a market outperform rating in a report on Wednesday, February 7th. Cantor Fitzgerald reissued an overweight rating and issued a $25.00 price objective on shares of Freshworks in a report on Wednesday, February 7th. Jefferies Financial Group raised Freshworks from a hold rating to a buy rating and boosted their price objective for the company from $20.00 to $30.00 in a report on Friday, January 5th. Finally, Morgan Stanley reduced their price target on Freshworks from $24.00 to $22.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $25.29.
View Our Latest Analysis on Freshworks
Insiders Place Their Bets
In other Freshworks news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.44, for a total transaction of $8,792,245.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.44, for a total value of $8,792,245.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the sale, the director now owns 19,991 shares of the company's stock, valued at $361,437.28. The disclosure for this sale can be found here. In the last three months, insiders sold 460,792 shares of company stock worth $9,408,403. Corporate insiders own 19.15% of the company's stock.
About Freshworks
(
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.
Further Reading
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