BUZZ-Freshworks falls on weak annual profit forecast

Reuters

Feb 11

BUZZ-<a href="https://laohu8.com/S/FRSH">Freshworks</a> falls on weak annual profit forecast

** Freshworks Inc FRSH.O shares dip 3.0% to $8.47 in pre-mkt trading

** Software development firm forecasts annual profit below Wall Street estimates, fanning wider concerns about AI's impact on the software industry

** Co forecasts 2026 adj profit of 55-57 cents/share, below estimates of 69 cents/share, per data compiled by LSEG, citing a higher tax rate and its acquisition of FireHydrant

** CEO Dennis Woodside attempts to dispel AI concerns, saying co is taking market share from incumbents like ServiceNow NOW.N and Atlassian TEAM.O; FRSH sees annual rev above estimates

** The average rating of 17 analysts on the stock is 'buy' and their median price target is $16.00, implying a 83% upside from its last close - LSEG

** The co's stock has plunged about 30.9% YTD amid a broad selloff in software shares on concerns over AI disruption, vs a 0.6% fall for the Nasdaq .IXIC

(Reporting by Medha Singh)

((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; X, formerly Twitter: @medhasinghs;))

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FRSH sees annual rev above estimates</p><p>** The average rating of 17 analysts on the stock is 'buy' and their median price target is $16.00, implying a 83% upside from its last close - LSEG</p><p>** The co's stock has plunged about 30.9% YTD amid <span>a broad selloff</span> in software shares on concerns over AI disruption, vs a 0.6% fall for the Nasdaq <span>.IXIC</span></p><p> (Reporting by Medha Singh)</p><p> ((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; X, formerly <a href=\"https://laohu8.com/S/TWTR\">Twitter</a>: @medhasinghs;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1551013342.USD","symbol_name":"Allianz Income and Growth Cl AMg2 DIS USD","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260211:nL4N3Z70SM:1","article_id":"2610936629","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2610936629","pubTimestamp":1770807481,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Freshworks falls on weak annual profit forecast** Freshworks Inc FRSH.O shares dip 3.0% to $8.47 in pre-mkt trading** Software development firm forecasts annual profit below Wall Street estimates, fanning wider concerns about AI's impact on the software industry** Co forecasts 2026 adj profit of 55-57 cents/share, below estimates of 69 cents/share, per data compiled by LSEG, citing a higher tax rate and its acquisition of FireHydrant** CEO Dennis Woodside attempts to dispel AI concerns, saying co is taking market share from incumbents like ServiceNow NOW.N and Atlassian TEAM.O; 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FRSH sees annual rev above estimates** The average rating of 17 analysts on the stock is 'buy' and their median price target is $16.00, implying a 83% upside from its last close - LSEG** The co's stock has plunged about 30.9% YTD amid a broad selloff in software shares on concerns over AI disruption, vs a 0.6% fall for the Nasdaq .IXIC (Reporting by Medha Singh) ((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; X, formerly Twitter: @medhasinghs;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}