Freshworks (NASDAQ:FRSH) Price Target Lowered to $17.00 at JPMorgan Chase & Co.

Freshworks (NASDAQ:FRSH) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $19.00 to $17.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 35.78% from the company’s current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird downgraded Freshworks from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $28.00 to $16.00 in a research note on Thursday, May 2nd. Morgan Stanley cut their price objective on Freshworks from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald dropped their price target on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday. Oppenheimer cut Freshworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group decreased their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and an average price target of $20.41.

Freshworks Stock Down 5.7 %

Shares of Freshworks stock traded down $0.76 during trading on Wednesday, reaching $12.52. The company’s stock had a trading volume of 3,483,697 shares, compared to its average volume of 2,634,741. Freshworks has a 12-month low of $11.90 and a 12-month high of $24.98. The company has a market capitalization of $3.74 billion, a P/E ratio of -31.30 and a beta of 0.74. The business has a 50 day moving average price of $12.87 and a 200-day moving average price of $16.73.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $165.14 million for the quarter, compared to the consensus estimate of $163.53 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. Research analysts predict that Freshworks will post -0.34 EPS for the current fiscal year.

Insider Transactions at Freshworks

In other news, Director Jennifer H. Taylor sold 7,028 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $13.74, for a total transaction of $96,564.72. Following the completion of the sale, the director now owns 19,991 shares in the company, valued at approximately $274,676.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Zachary Nelson sold 8,442 shares of the business’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 transaction, the director now directly owns 16,535 shares of the company’s stock, valued at approximately $210,821.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 7,028 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $13.74, for a total value of $96,564.72. Following the transaction, the director now directly owns 19,991 shares in the company, valued at $274,676.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,296 shares of company stock worth $443,630. 19.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FRSH. Advisors Asset Management Inc. lifted its holdings 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 purchasing an additional 757 shares during the last quarter. CWM LLC lifted its stake in Freshworks by 554.5% in the 2nd 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. EntryPoint Capital LLC purchased a new stake in Freshworks in the 1st quarter worth about $82,000. International Assets Investment Management LLC purchased a new stake in Freshworks in the 2nd quarter worth about $58,000. Finally, Quest Partners LLC acquired a new position in Freshworks in the 4th quarter worth about $166,000. 75.58% of the stock is currently owned by institutional investors.

About Freshworks

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.