Freshworks Inc. (NASDAQ:FRSH) Receives Average Recommendation of “Moderate Buy” from Analysts

Freshworks Inc. (NASDAQ:FRSH) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.69.

A number of equities analysts have recently weighed in on FRSH shares. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Freshworks in a report on Thursday. Canaccord Genuity Group increased their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group lowered their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler increased their price target on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JMP Securities increased their target price on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday.

Insider Activity

In other news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the transaction, the director now owns 22,530 shares in the company, valued at approximately $259,996.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the transaction, the director now owns 22,530 shares in the company, valued at $259,996.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the transaction, the director now owns 36,689 shares in the company, valued at $405,780.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,153 shares of company stock worth $459,383. 19.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after purchasing an additional 757 shares during the last quarter. CWM LLC grew its stake in shares of Freshworks by 554.5% in the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Covestor Ltd grew its stake in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Up 28.5 %

Shares of NASDAQ:FRSH opened at $16.82 on Friday. The business has a fifty day moving average of $11.55 and a two-hundred day moving average of $12.63. The stock has a market cap of $5.08 billion, a P/E ratio of -49.47 and a beta of 0.72. Freshworks has a 52-week low of $10.81 and a 52-week high of $24.98.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $186.58 million during the quarter, compared to analysts’ expectations of $181.50 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. On average, equities analysts anticipate that Freshworks will post -0.38 earnings per share for the current year.

About Freshworks

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.