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

Shares of Freshworks Inc. (NASDAQ:FRSHGet Free Report) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $22.00.

Several research firms recently issued reports on FRSH. Barclays decreased their price objective on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. Canaccord Genuity Group reduced their price target on shares of Freshworks from $27.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Oppenheimer downgraded shares of Freshworks from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Piper Sandler reduced their price target on shares of Freshworks from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reduced their price target on shares of Freshworks from $25.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd.

View Our Latest Stock Analysis on FRSH

Insider Buying and Selling

In related news, Director Jennifer H. Taylor sold 7,035 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total transaction of $127,192.80. Following the completion of the sale, the director now owns 19,991 shares in the company, valued at approximately $361,437.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $12.75, for a total value of $107,635.50. Following the completion of the sale, the director now owns 16,535 shares in the company, valued at approximately $210,821.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total transaction of $127,192.80. Following the completion of the sale, the director now owns 19,991 shares of the company’s stock, valued at approximately $361,437.28. The disclosure for this sale can be found here. Insiders sold 24,845 shares of company stock worth $367,109 in the last quarter. 19.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. Board of Trustees of The Leland Stanford Junior University grew its position in shares of Freshworks by 1.9% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 35,019 shares of the company’s stock worth $823,000 after buying an additional 638 shares during the period. Advisors Asset Management Inc. grew its position in shares of Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after buying an additional 757 shares during the period. California State Teachers Retirement System grew its position in shares of Freshworks by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after buying an additional 831 shares during the period. Arizona State Retirement System grew its position in shares of Freshworks by 2.6% during the 3rd quarter. Arizona State Retirement System now owns 40,667 shares of the company’s stock worth $810,000 after buying an additional 1,020 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Freshworks by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after buying an additional 1,160 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Trading Up 0.5 %

NASDAQ FRSH opened at $12.80 on Thursday. The company has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $19.12. The company has a market cap of $3.82 billion, a P/E ratio of -32.00 and a beta of 0.75. Freshworks has a 1 year low of $12.56 and a 1 year high of $24.98.

Freshworks (NASDAQ:FRSHGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $163.53 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. Equities research analysts forecast that Freshworks will post -0.34 EPS for the current fiscal year.

Freshworks Company Profile

(Get Free Report

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.

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Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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