Business software provider Freshworks (NASDAQ: FRSH) will be reporting results tomorrow afternoon. Here's what investors should know.
Last quarter Freshworks reported revenues of $96.6 million, up 45.9% year on year, beating analyst revenue expectations by 6.26%. It was a very strong quarter for the company, with an exceptional revenue growth and a solid beat of analyst estimates.
Is Freshworks buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Freshworks 's revenue to grow 32.4% year on year to $96.7 million, loss is expected to come in at -$0.06 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The recently IPOed company doesn't have a long history of performance against analyst expectations, but it did exceed Wall St's revenue estimates last quarter by 6.26%.
Looking at Freshworks 's peers in the sales and marketing software segment, only Qualtrics (NASDAQ:XM) has so far reported results, delivering top-line growth of 47.9% year on year, and beating analyst estimates by 6.18%. The stock traded up 5.97% on the results. Read our full analysis of Qualtrics's earnings results here.
The fears around raising interest rates have been putting pressure on tech stocks and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 7.48% over the last month. Freshworks is down 8% during the same time, and is heading into the earnings with analyst price target of $42, compared to share price of $22.53.
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The author has no position in any of the stocks mentioned.