Freshworks Inc. (NASDAQ:FRSH) is expected to report earnings of -$0.05 per share
Stock analysts expect Freshworks Inc. (NASDAQ:FRSH – Get Rating) to report ($0.05) earnings per share for the current quarter, according to Zacks. Six analysts released earnings estimates for Freshworks, with estimates ranging from ($0.06) to ($0.05). The company is expected to release its next quarterly results after the market closes on Monday, January 1.
According to Zacks, analysts expect Freshworks to report annual earnings of $0.21 per share for the current year, with EPS estimates ranging from $0.22 to $0.20. For next year, analysts expect the company to report earnings of ($0.12) per share, with EPS estimates ranging from ($0.15) to ($0.09). Zacks’ EPS calculations are an average average based on a survey of sell-side research analysts who cover Freshworks.
Freshworks (NASDAQ:FRSH – Get Rating) last released its quarterly results on Thursday, February 10. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company posted revenue of $105.48 million for the quarter, versus a consensus estimate of $100.34 million. The company’s revenue for the quarter increased 44.5% year over year.
FRSH has been the subject of several recent analyst reports. Piper Sandler cut her price target on Freshworks shares from $38.00 to $36.00 and set an “overweight” rating for the company in a Friday, Feb. 11 report. Robert W. Baird lowered his target price on Freshworks shares from $50.00 to $40.00 in a Friday, Feb. 11 research note. Jefferies Financial Group lowered its price target on Freshworks shares from $50.00 to $25.00 and placed a “hold” rating on the stock in a Thursday, Jan. 6 research note. Barclays lowered its target price on Freshworks shares from $45.00 to $27.00 in a Wednesday, January 12 research note. Finally, Needham & Company LLC lowered its target price on Freshworks shares from $58.00 to $40.00 in a Friday, February 11 research note. One equity research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.38.
Separately, CRO Jose Morales sold 1,984 shares of the company in a trade dated Tuesday, April 19. The shares were sold at an average price of $20.00, for a total transaction of $39,680.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, director Randy Gottfried sold 112,500 shares of the company in a transaction dated Monday, February 14. The shares were sold at an average price of $20.38, for a total transaction of $2,292,750.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 151,994 shares of the company worth $3,031,422.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Cubist Systematic Strategies LLC acquired a new position in Freshworks in the third quarter worth approximately $27,000. Moors & Cabot Inc. acquired a new position in Freshworks in the third quarter worth approximately $506,000. Atom Investors LP acquired a new position in Freshworks in the third quarter worth approximately $268,000. Squarepoint Ops LLC acquired a new position in Freshworks in the third quarter worth approximately $305,000. Finally, CNH Partners LLC acquired a new position in Freshworks in the third quarter worth approximately $317,000. 20.39% of the shares are currently held by institutional investors.
NASDAQ FRSH shares opened at $17.78 on Friday. The company has a fifty-day moving average of $18.65. Freshworks has a one-year minimum of $15.60 and a one-year maximum of $53.36.
Freshworks Company Profile (Get an evaluation)
Freshworks Inc, a software development company, provides modern software products as a service worldwide. The company offers Freshdesk Support Desk which enables businesses to delight customers at every service engagement touchpoint across traditional channels, including email, as well as modern channels, such as email and social media. ; Freshdesk Messaging, which provides agents with a modern conversational user interface to engage with customers through web, mobile and social messaging apps; Freshdesk Contact Center which helps agent with cloud-based phone system to connect with customers; Freshdesk Omnichannel Suite, an integrated suite for engaging and tracking customers across digital and traditional channels; and Freshdesk Customer Success which helps customer success managers at B2B subscription companies.
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