Why Freshworks Stock Sank 15.8% Last Month
Shares of Freshworks (NASDAQ: FRSH) fell 15.8% in February, according to data from S&P Global Market Intelligence. The enterprise software company's stock lost ground following its fourth-quarter earnings release.
Freshworks published its fourth-quarter results on Feb. 10, delivering sales that topped the market's expectations and earnings that were in line with analyst targets. The customer-relationship-management (CRM) software company posted a non-GAAP (adjusted) loss per share of $0.06 on revenue of $105.5 million. Meanwhile, the average analyst estimate had called for revenue of $95.34 million in the period.
Freshworks' revenue climbed 44.5% year over year in the fourth quarter, and the business posted a net-dollar-based retention rate of 114%, which means that existing customers increased their spending 14% compared to the prior-year period on average. For the full year, revenue was up 49% and reached $371 million.
Source Fool.com
