Analysts Set Freshworks Inc. (NASDAQ:FRSH) Price Target at $19.07

Freshworks Inc. (NASDAQ:FRSH) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.07.

A number of equities analysts have commented on FRSH shares. Canaccord Genuity Group boosted their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler boosted their price objective on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Robert W. Baird cut their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th.

Insider Buying and Selling at Freshworks

In related news, Director Barry L. Padgett sold 2,345 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total transaction of $40,568.50. Following the completion of the sale, the director now directly owns 26,957 shares in the company, valued at approximately $466,356.10. This trade represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the sale, the director now owns 24,187 shares of the company’s stock, valued at approximately $442,622.10. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,727,211 shares of company stock valued at $27,224,746. Corporate insiders own 19.15% of the company’s stock.

Institutional Investors Weigh In On Freshworks

Several large investors have recently made changes to their positions in FRSH. Smith Group Asset Management LLC acquired a new stake in shares of Freshworks in the fourth quarter worth $589,000. Quantbot Technologies LP lifted its stake in shares of Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after buying an additional 189,616 shares during the last quarter. Barclays PLC lifted its stake in shares of Freshworks by 33.4% in the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Freshworks in the third quarter worth $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after buying an additional 209,194 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

FRSH stock opened at $17.43 on Tuesday. The stock has a market capitalization of $5.28 billion, a P/E ratio of -51.26 and a beta of 0.91. Freshworks has a one year low of $10.81 and a one year high of $21.61. The company has a 50 day moving average price of $16.97 and a two-hundred day moving average price of $14.08.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. Research analysts forecast that Freshworks will post -0.35 earnings per share for the current fiscal year.

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.