Freshworks (NASDAQ:FRSH) Releases Quarterly Earnings Results

Freshworks (NASDAQ:FRSH) released its earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10), Zacks reports. Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%.

Freshworks Stock Performance

FRSH traded down $0.44 on Tuesday, hitting $17.86. The company had a trading volume of 6,326,662 shares, compared to its average volume of 3,974,656. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -52.53 and a beta of 0.91. The stock has a fifty day moving average price of $16.90 and a 200-day moving average price of $14.02. Freshworks has a 12-month low of $10.81 and a 12-month high of $22.14.

Insider Buying and Selling at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the completion of the sale, the director now owns 24,187 shares in the company, valued at approximately $383,363.95. This represents a 25.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total value of $78,510.60. Following the transaction, the director now owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,727,211 shares of company stock valued at $27,224,746. 19.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FRSH shares. JPMorgan Chase & Co. lifted their target price on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird dropped their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler increased their price objective on Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.07.

About Freshworks

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.