Freshworks (FRSH) Set to Announce Quarterly Earnings on Wednesday

Freshworks (NASDAQ:FRSH - Get Free Report) is set to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect Freshworks to post earnings of $0.08 per share for the quarter. Persons interested in registering for the company's earnings conference call can do so using this link.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $174.13 million for the quarter, compared to the consensus estimate of $169.05 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. On average, analysts expect Freshworks to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Freshworks Trading Up 0.7 %

FRSH traded up $0.08 during midday trading on Wednesday, hitting $11.87. 3,845,855 shares of the company were exchanged, compared to its average volume of 2,641,727. The company's 50 day simple moving average is $11.41 and its 200 day simple moving average is $12.78. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -29.70 and a beta of 0.73. Freshworks has a 1-year low of $10.81 and a 1-year high of $24.98.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FRSH. Wells Fargo & Company began coverage on Freshworks in a research report on Wednesday, October 16th. They set an "equal weight" rating and a $11.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Freshworks from $19.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Freshworks in a research report on Wednesday, July 31st. Piper Sandler dropped their target price on Freshworks from $17.00 to $13.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Finally, Scotiabank dropped their target price on Freshworks from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and an average price target of $17.86.

Insider Activity at Freshworks

In related news, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $11.60, for a total value of $97,927.20. Following the transaction, the director now directly owns 22,530 shares of the company's stock, valued at approximately $261,348. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $11.22, for a total value of $70,719.66. Following the completion of the sale, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total value of $97,927.20. Following the completion of the sale, the director now owns 22,530 shares of the company's stock, valued at approximately $261,348. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,245 shares of company stock valued at $533,811. 19.15% of the stock is owned by corporate insiders.

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.