From Nasdaq, Inc.:

Freshworks Inc. (FRSH) shares have jumped 30.4% in the past six months, outperforming the Computer & Technology sector’s return of 7.9%. Third quarter 2023 revenues rose to $153.6 million, with a 19% year over year increase. The company continued to expand its portfolio with the release of an AI-powered Customer Service Suite. Monos and Lalamove are a few notable clients.

Monos, a high-end online luggage retailer, turned to Freshworks for its customer service operations, utilizing Freshdesk and Freddy AI. Lalamove is using Freshdesk and Freshsales to provide customized experiences to customers. Freshworks also benefits from its partnership with Microsoft (MSFT), as Freshservice customers utilizing more Microsoft Teams have increased by 42% over three years.

Freshworks expects its fourth-quarter 2023 revenues to grow between 18-20%. The Zacks Consensus Estimate for fourth-quarter revenues is $158.11 million, indicating 18.73% year-over-year growth. Freshworks currently holds a Zacks Rank #3 (Hold), while BlackLine (BL) and Ceridian HCM (CDAY) are Zacks Rank #1 (Strong Buy) stocks in the broader sector.

Read more: Freshworks (FRSH) Rides on Solid Portfolio, Expanding Clientele