Zacks: Analysts Anticipate Freshworks Inc. (NASDAQ:FRSH) to Announce -$0.07 Earnings Per Share

Analysts expect that Freshworks Inc. (NASDAQ:FRSH – Get Rating) will report earnings per share of ($0.07) for the current quarter, according to Zacks. Six analysts have made estimates for Freshworks’ earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.07). The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Freshworks will report full-year earnings of ($0.16) per share for the current year, with EPS estimates ranging from ($0.17) to ($0.15). For the next financial year, analysts expect that the firm will post earnings of ($0.10) per share, with EPS estimates ranging from ($0.13) to ($0.05). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Freshworks.

Freshworks (NASDAQ:FRSH – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $114.64 million during the quarter, compared to analyst estimates of $108.24 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The company’s revenue was up 42.3% on a year-over-year basis.

Several brokerages have recently issued reports on FRSH. JMP Securities lowered their price objective on shares of Freshworks from $41.00 to $29.00 in a research note on Wednesday, May 4th. Needham & Company LLC lowered their price objective on shares of Freshworks from $40.00 to $25.00 in a research note on Wednesday, May 4th. Oppenheimer lowered their price objective on shares of Freshworks from $36.00 to $26.00 in a research note on Wednesday, May 4th. Robert W. Baird lowered their price objective on shares of Freshworks from $50.00 to $40.00 in a research note on Friday, February 11th. Finally, Piper Sandler decreased their price target on shares of Freshworks from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.22.

Shares of NASDAQ FRSH traded up $1.65 during trading on Friday, hitting $16.19. 3,817,291 shares of the company traded hands, compared to its average volume of 3,260,586. Freshworks has a 1 year low of $12.91 and a 1 year high of $53.36. The stock has a 50-day moving average of $18.02.

In other news, major shareholder Sequoia Capital India V. Ltd. acquired 2,828,900 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was bought at an average cost of $17.35 per share, with a total value of $49,081,415.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Sequoia Capital India V. Ltd. acquired 1,265,025 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was purchased at an average cost of $17.19 per share, with a total value of $21,745,779.75. The disclosure for this purchase can be found here. Over the last three months, insiders sold 156,694 shares of company stock valued at $3,098,773. 29.12% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in Freshworks during the third quarter worth about $27,000. FourThought Financial LLC acquired a new stake in Freshworks during the first quarter worth about $47,000. US Bancorp DE raised its stake in Freshworks by 1,141.4% during the first quarter. US Bancorp DE now owns 8,044 shares of the company’s stock worth $144,000 after acquiring an additional 7,396 shares during the period. Pearl River Capital LLC acquired a new stake in Freshworks during the first quarter worth about $204,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Freshworks during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 24.86% of the company’s stock.

Freshworks Company Profile (Get Rating)

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. The company offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, as well as modern channels, such as messaging and social media; Freshdesk Messaging, which provides agents with a modern conversational user interface to engage with customers across web, mobile, and social messaging applications; Freshdesk Contact Center that helps agent with cloud-based telephony system to connect with customers; Freshdesk Omnichannel Suite, an integrated suite to engage and track customers across digital and traditional channels; and Freshdesk Customer Success that helps customer success managers at B2B subscription companies.

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