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

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.69.

FRSH has been the topic of several analyst reports. Scotiabank cut their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group cut their target price on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group lifted their target price on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.23, for a total value of $52,668.70. Following the completion of the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at approximately $402,629.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 of the company’s stock, valued at $402,629.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now directly owns 23,497 shares of the company’s stock, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,153 shares of company stock valued at $459,383. 19.15% of the stock is owned by company insiders.

Institutional Trading of Freshworks

Several large investors have recently made changes to their positions in FRSH. Allspring Global Investments Holdings LLC increased its position in shares of Freshworks by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after purchasing an additional 1,160 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Freshworks during the first quarter worth approximately $685,000. Quantbot Technologies LP purchased a new stake in shares of Freshworks during the first quarter worth approximately $4,565,000. SG Americas Securities LLC purchased a new stake in shares of Freshworks during the first quarter worth approximately $179,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Freshworks during the first quarter worth approximately $444,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Trading Up 28.5 %

NASDAQ:FRSH opened at $16.82 on Friday. Freshworks has a twelve month low of $10.81 and a twelve month high of $24.98. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -49.47 and a beta of 0.72. The stock has a fifty day simple moving average of $11.55 and a 200-day simple moving average of $12.63.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $186.58 million during the quarter, compared to the consensus estimate of $181.50 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. As a group, equities research analysts predict that Freshworks will post -0.38 EPS 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.