Freshworks Inc. (NASDAQ:FRSH) Receives $25.00 Consensus Target Price from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $25.00.

FRSH has been the topic of several recent analyst reports. Needham & Company LLC lifted their target price on Freshworks from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Piper Sandler lifted their target price on Freshworks from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of Freshworks in a research report on Wednesday, February 7th. JMP Securities lifted their price target on Freshworks from $25.00 to $29.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 7th. Finally, Wolfe Research upgraded Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Tuesday, February 20th.

Freshworks Trading Down 0.3 %

Shares of NASDAQ FRSH opened at $17.59 on Wednesday. The stock’s 50 day simple moving average is $18.94 and its 200 day simple moving average is $20.05. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -37.43 and a beta of 0.90. Freshworks has a 12-month low of $12.22 and a 12-month high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $160.11 million for the quarter, compared to the consensus estimate of $158.11 million. Freshworks had a negative return on equity of 12.55% and a negative net margin of 23.04%. As a group, equities analysts forecast that Freshworks will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Freshworks

In other news, Director Roxanne S. Austin sold 6,303 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $21.54, for a total value of $135,766.62. Following the completion of the sale, the director now owns 88,431 shares of the company’s stock, valued at $1,904,803.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction on Monday, February 12th. The stock was sold at an average price of $21.71, for a total transaction of $152,729.85. Following the completion of the sale, the director now owns 19,490 shares of the company’s stock, valued at $423,127.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $21.54, for a total value of $135,766.62. Following the completion of the sale, the director now directly owns 88,431 shares of the company’s stock, valued at approximately $1,904,803.74. The disclosure for this sale can be found here. Insiders sold a total of 460,792 shares of company stock valued at $9,408,403 over the last quarter. Company insiders own 26.66% of the company’s stock.

Institutional Trading of Freshworks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in shares of Freshworks by 373.8% in the third quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company’s stock worth $33,000 after purchasing an additional 1,312 shares during the period. Quarry LP bought a new position in shares of Freshworks in the second quarter worth about $35,000. UBS Group AG increased its stake in shares of Freshworks by 117.5% in the third quarter. UBS Group AG now owns 3,574 shares of the company’s stock worth $46,000 after purchasing an additional 1,931 shares during the period. Quantbot Technologies LP bought a new position in shares of Freshworks in the first quarter worth about $59,000. Finally, Neo Ivy Capital Management bought a new position in shares of Freshworks in the third quarter worth about $81,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Company Profile

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.