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DUBAI, UAE, June 27, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc . (NASDAQ: FRSH) today announced the launch of its new data center, powered by Amazon Web Services (AWS), in the UAE.
Enhances IT Asset Management Capabilities Designed to Provide Customers with a Single, Integrated Platform New Capabilities Help Customers Reduce Risk, Solve Incidents Faster SAN MATEO, Calif., June 06, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH) today announced the completion of its acquisition of Device42, a company that provides comprehensive, continuously up-to-date views of assets across an organization's entire IT infrastructure.
The heavy selling pressure might have exhausted for Freshwork (FRSH) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Freshworks beat sales and earnings expectations for the first quarter. The company's forward-earnings guidance also beat expectations, but sales targets missed the mark.
Freshworks (NASDAQ: FRSH ) stock is falling on Thursday after the software development company announced that founder and CEO Girish Mathrubootham is stepping down. This will have Mathrubootham leave the CEO role to take over as the executive chairman of Freshworks.
Freshworks' shares plunged nearly 30% in premarket trading on Thursday after the CRM software maker cut its full-year revenue forecast and named a new CEO.
Freshworks, the publicly listed SaaS firm, is acquiring U.S.-based startup Device42 for $230 million, the company disclosed in an SEC filing. Alongside the acquisition disclosure, Freshworks revealed that founder Girish Mathrubootham has stepped down as CEO.
Freshworks Inc. (FRSH) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.03 per share a year ago.
Software stocks usually trade at steep premiums compared to the broader market. SaaS names in particular often garner nosebleed valuations exceeding 10-times forward sales (or higher), even with ho-hum growth in the low double-digits.
SAN MATEO, Calif., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc., (NASDAQ: FRSH) today announced participation in the following events: