$108.21 Million in Sales Expected for Freshworks Inc. (NASDAQ:FRSH) This Quarter

Analysts forecast that Freshworks Inc. (NASDAQ:FRSHGet Rating) will post sales of $108.21 million for the current quarter, Zacks reports. Six analysts have provided estimates for Freshworks’ earnings, with the highest sales estimate coming in at $108.64 million and the lowest estimate coming in at $108.00 million. The firm is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Freshworks will report full year sales of $490.60 million for the current year, with estimates ranging from $488.10 million to $492.50 million. For the next financial year, analysts forecast that the firm will post sales of $643.79 million, with estimates ranging from $636.20 million to $649.31 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Freshworks.

Freshworks (NASDAQ:FRSHGet Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $105.48 million during the quarter, compared to the consensus estimate of $100.34 million. Freshworks’s revenue was up 44.5% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Jefferies Financial Group decreased their price target on Freshworks from $50.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, January 6th. Robert W. Baird cut their price objective on Freshworks from $50.00 to $40.00 in a report on Friday, February 11th. JMP Securities dropped their target price on Freshworks from $53.00 to $41.00 and set a “market outperform” rating on the stock in a report on Friday, February 11th. StockNews.com raised Freshworks to a “sell” rating in a report on Friday, April 1st. Finally, Piper Sandler dropped their price objective on Freshworks from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, February 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Freshworks has a consensus rating of “Hold” and an average target price of $32.38.

Freshworks stock opened at $18.82 on Tuesday. The company has a 50-day simple moving average of $18.58. Freshworks has a one year low of $15.60 and a one year high of $53.36.

In other news, CRO Jose Morales sold 1,984 shares of Freshworks stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $20.00, for a total value of $39,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randy Gottfried sold 112,500 shares of Freshworks stock in a transaction on Monday, February 14th. The shares were sold at an average price of $20.38, for a total value of $2,292,750.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,994 shares of company stock valued at $3,031,422. 13.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FRSH. Cubist Systematic Strategies LLC acquired a new position in Freshworks during the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. acquired a new position in Freshworks during the 4th quarter worth $218,000. Virtu Financial LLC acquired a new position in Freshworks during the 4th quarter worth $234,000. Bank of America Corp DE grew its stake in Freshworks by 1,658.0% during the 4th quarter. Bank of America Corp DE now owns 9,493 shares of the company’s stock worth $249,000 after purchasing an additional 8,953 shares in the last quarter. Finally, Atom Investors LP acquired a new position in Freshworks during the 3rd quarter worth $268,000. 20.39% of the stock is owned by institutional investors and hedge funds.

About Freshworks (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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