SAN MATEO, CA—Austin Roxanne S, a director at Freshworks Inc. (NASDAQ:FRSH), a software company with impressive gross profit margins of 84% and a market capitalization of $4.7 billion, recently sold 6,303 shares of the company's Class A common stock. The shares were sold at a weighted average price of $15.69, amounting to a total transaction value of $98,894. This sale was conducted on January 10, 2025, as part of a pre-established Rule 10b5-1 trading plan adopted on March 11, 2024. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment.
Following this transaction, Roxanne retains ownership of 193,793 shares of Freshworks. The shares were sold in multiple transactions, with prices ranging from $15.56 to $15.84 per share. With 16 analysts recently revising earnings estimates upward and the company's next earnings report scheduled for February 11, 2025, InvestingPro subscribers can access additional insights and detailed analysis in the comprehensive Pro Research Report.
In other recent news, Freshworks Inc. reported its financial performance for the third quarter of 2024, while also providing an outlook for the fourth quarter and the full year. The company acknowledged macroeconomic uncertainties that could potentially impact its operations, but expressed confidence in its ongoing workplace realignment, anticipating it might enhance future performance. Freshworks also provided a preliminary outlook for the full year of 2025, but refrained from making any predictions regarding its stock performance.
In a separate development, Freshworks announced the appointment of Srinivasan Raghavan as its new Chief Product Officer. Raghavan, known as Srini, brings over two decades of leadership experience within the enterprise SaaS sector to the Freshworks executive team. He is expected to lead Freshworks' product strategy and vision, focusing on the company's AI, customer experience, and employee experience solutions.
Needham, an analyst firm, reiterated its Buy rating on Freshworks, citing positive trends in the company's operations. The firm noted potential revenue uplift from licenses to Freddy, and expected price increase for Freshservice. Despite competition from NOW as a significant ITSM threat, Freshworks remains competitive, particularly in terms of pricing. However, demand for Freshdesk has been slow year-to-date and is anticipated to continue at the same pace.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.