Freshworks (NASDAQ:FRSH) Issues Quarterly Earnings Results

Freshworks (NASDAQ:FRSH) released its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share 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 Down 2.4 %

Shares of Freshworks stock traded down $0.44 during mid-day trading on Tuesday, reaching $17.86. 6,326,662 shares of the stock traded hands, compared to its average volume of 3,974,656. The stock has a market capitalization of $5.41 billion, a PE ratio of -52.53 and a beta of 0.91. The business has a 50-day moving average of $16.90 and a 200 day moving average of $14.02. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $22.14.

Analyst Ratings Changes

FRSH has been the topic of several analyst reports. Robert W. Baird dropped their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Morgan Stanley raised their price objective on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research note on Wednesday, January 15th. Piper Sandler raised their price target on shares of Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $16.00 to $13.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.07.

Insider Transactions at Freshworks

In other news, Director Barry L. Padgett sold 2,345 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total value of $40,568.50. Following the transaction, the director now directly owns 26,957 shares of the company’s stock, valued at approximately $466,356.10. This trade represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the transaction, the director now owns 24,187 shares in the company, valued at $383,363.95. The trade was a 25.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,727,211 shares of company stock valued at $27,224,746 over the last ninety days. Insiders own 19.15% of the company’s stock.

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.