Streetbeat News

FRSH

Freshworks Inc.

https://www.freshworks.com

Industry

Software - Application

Freshworks Inc., a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc. was formerly known as Freshdesk Inc. and changed its name to Freshworks Inc. in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

Open

16.34

Mkt cap

4.8B

Volume

4.7M

High

16.39

P/E Ratio

-46.26

52-wk high

24.98

Low

15.59

Div yield

N/A

52-wk low

10.81

Needham analyst Scott Berg reiterates a Buy rating on Freshworks (NASDAQ:FRSH) and maintains a $30 price target.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:29 am

Baird analyst Rob Oliver downgraded Freshworks (NASDAQ:FRSH) from Outperform to Neutral and reduced the price target from $28 to $16.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:11 am

Freshworks has revised its FY24 revenue forecast downwards from $703.5M-$711.5M to $695M-$705M, below the estimated $708.351M, but raised its adjusted EPS forecast from $0.29-$0.31 to $0.32-$0.35, above the estimated $0.30.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:43 pm

Freshworks provided its Q2 revenue forecast to be between $168M-$170M, falling short of the estimated $172.082M. However, its adjusted EPS is expected to be in line with estimates at $0.05-$0.06.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:39 pm

In Wednesday's after-market session, several information technology stocks showed significant movement. Brand Engagement Network, Castellum, My Size, Wetouch Technology, FormFactor, and Kopin were among the gainers, with notable increases in their stock prices. On the other hand, Fastly, Freshworks, Everspin Technologies, Qorvo, Kulicke & Soffa Industries, and Aviat Networks experienced declines, largely attributed to their latest earnings reports.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 8:31 pm

Freshworks has announced the appointment of Dennis Woodside as CEO and President, effective immediately. Woodside, who was already serving as President, will take over from Girish Mathrubootham, the company's founder. Mathrubootham will transition to the role of Executive Chairman. This leadership change is significant for Freshworks as it moves forward.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:19 pm

Freshworks shares are trading lower following the announcement of Q1 financial results and a CEO transition.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:16 pm

Freshworks (NASDAQ:FRSH) reported Q1 2024 adjusted earnings of $0.10 per share, surpassing the $0.08 estimate, a 233.33% increase from last year. Sales reached $165.143M, beating the $163.728M estimate, marking a 19.94% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:12 pm

US stocks showed mixed performance ahead of the Federal Reserve meeting, with the S&P 500 and Nasdaq 100 experiencing slight declines, while the Dow Jones saw gains. Advanced Micro Devices (AMD) reported less optimistic Q2 guidance, causing its shares and those of Nvidia (NVDA) to fall. The ADP report indicated strong private job additions, but the ISM Manufacturing Index fell into contraction. Bitcoin also saw a significant drop. Various companies reacted to earnings reports, influencing their stock prices.

Portfolio Pulse from Piero Cingari

May 01, 2024 | 5:07 pm

Wall Street is expected to open lower due to AMD's disappointing earnings, impacting the tech sector and broader market. However, the Federal Reserve's interest rate decision and Chairman Jerome Powell's press conference could influence the market's direction. Analysts see the April market pullback as a correction, setting the stage for a potential summer rally. Premarket trading saw SPDR S&P 500 ETF Trust and Invesco QQQ ETF decline. Economic data and bond yields have pressured stocks, with major indices ending lower in the previous session. Analysts anticipate Powell's guidance on rate outlook and expect a summer rally, considering it's an election year.

Portfolio Pulse from Shanthi Rexaline

May 01, 2024 | 10:44 am

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