Freshworks (NASDAQ:FRSH) Given New $15.00 Price Target at Robert W. Baird

Freshworks (NASDAQ:FRSH) had its price target decreased by investment analysts at Robert W. Baird from $16.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential downside of 10.29% from the stock’s current price.

FRSH has been the subject of a number of other research reports. Piper Sandler lifted their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald cut their price target on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Scotiabank dropped their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JMP Securities upped their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.

Freshworks Stock Performance

FRSH traded up $3.63 during trading on Thursday, reaching $16.72. The stock had a trading volume of 8,569,795 shares, compared to its average volume of 2,714,785. The business has a 50-day moving average of $11.45 and a 200-day moving average of $12.60. Freshworks has a one year low of $10.81 and a one year high of $24.98. The stock has a market cap of $5.05 billion, a PE ratio of -47.54 and a beta of 0.72.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The business had revenue of $186.58 million during the quarter, compared to analyst estimates of $181.50 million. Equities research analysts forecast that Freshworks will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.23, for a total transaction of $52,668.70. Following the completion of the transaction, the director now directly owns 35,853 shares in the company, valued at approximately $402,629.19. This trade 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 other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.23, for a total transaction of $52,668.70. Following the sale, the director now directly owns 35,853 shares of the company’s stock, valued at $402,629.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the sale, the director now directly owns 22,530 shares in the company, valued at $259,996.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,456 shares of company stock worth $530,102 in the last 90 days. Company insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

Several institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after purchasing an additional 2,822 shares during the period. Advisors Asset Management Inc. raised its position in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares in the last quarter. CWM LLC raised its position in Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares in the last quarter. Covestor Ltd raised its position in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares in the last quarter. Finally, Quarry LP raised its position in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares in the last quarter. Institutional investors 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.