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

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $19.40.

Several research analysts have issued reports on FRSH shares. Canaccord Genuity Group dropped their target price on Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley lowered their price objective on Freshworks from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Oppenheimer downgraded Freshworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Robert W. Baird cut shares of Freshworks from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $28.00 to $16.00 in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group dropped their target price on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $12.75, for a total transaction of $107,635.50. Following the sale, the director now directly owns 16,535 shares in the company, valued at $210,821.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Roxanne S. Austin sold 6,303 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total value of $70,719.66. Following the completion of the sale, the director now owns 223,106 shares in the company, valued at approximately $2,503,249.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $12.75, for a total transaction of $107,635.50. Following the transaction, the director now owns 16,535 shares in the company, valued at $210,821.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,703 shares of company stock valued at $565,971. 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 FRSH. CWM LLC raised its holdings in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after buying an additional 2,878 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after acquiring an additional 757 shares in the last quarter. Quarry LP lifted its holdings in shares of Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after buying an additional 2,645 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Freshworks during the second quarter valued at $58,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Freshworks in the first quarter valued at about $82,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

Shares of NASDAQ:FRSH opened at $11.95 on Tuesday. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -29.88 and a beta of 0.74. The stock’s 50-day simple moving average is $12.36 and its two-hundred day simple moving average is $15.41. Freshworks has a 52-week low of $10.96 and a 52-week high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $174.13 million for the quarter, compared to analysts’ expectations of $169.05 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share. As a group, equities analysts forecast that Freshworks will post -0.34 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.