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

Shares of Freshworks Inc. (NASDAQ:FRSH) have received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.69.

A number of equities research analysts have commented on FRSH shares. 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 dropped their price target on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Thursday.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the sale, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Freshworks news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the sale, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction on 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 sale, the director now owns 35,853 shares in the company, valued at approximately $402,629.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,153 shares of company stock worth $459,383. 19.15% of the stock is owned by corporate insiders.

Institutional Trading of Freshworks

A number of large investors have recently made changes to their positions in FRSH. Capital International Investors bought a new stake in shares of Freshworks in the 1st quarter worth about $59,311,000. Clearbridge Investments LLC increased its holdings in shares of Freshworks by 107.4% in the 1st quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after buying an additional 2,097,280 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after buying an additional 1,354,530 shares during the last quarter. M&G PLC bought a new stake in shares of Freshworks in the 3rd quarter worth about $9,094,000. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Freshworks in the 2nd quarter worth about $9,133,000. 75.58% of the stock is currently owned by institutional investors.

Freshworks Trading Down 2.3 %

NASDAQ:FRSH opened at $16.44 on Friday. Freshworks has a 12 month low of $10.81 and a 12 month high of $24.98. The company has a market cap of $4.97 billion, a PE ratio of -48.35 and a beta of 0.72. The company has a 50 day simple moving average of $11.64 and a two-hundred day simple moving average of $12.57.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.66%. The business had revenue of $186.58 million during the quarter, compared to the consensus estimate of $181.50 million. Research analysts forecast that Freshworks will post -0.38 earnings per share for the current 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.