Piper Sandler Issues Positive Forecast for Freshworks (NASDAQ:FRSH) Stock Price

Freshworks (NASDAQ:FRSH) had its price objective boosted by equities researchers at Piper Sandler from $18.00 to $20.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 23.99% from the stock’s current price.

A number of other equities research analysts have also issued reports on FRSH. Wells Fargo & Company raised their price target on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Robert W. Baird lowered their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, JMP Securities increased their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Freshworks has an average rating of “Moderate Buy” and an average target price of $19.00.

Freshworks Trading Down 1.2 %

Shares of NASDAQ:FRSH opened at $16.13 on Monday. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -47.44 and a beta of 0.88. Freshworks has a 12 month low of $10.81 and a 12 month high of $23.93. The firm’s 50-day moving average is $15.68 and its 200 day moving average is $13.21.

Insider Activity at Freshworks

In other Freshworks news, Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total value of $40,568.50. Following the sale, the director now directly owns 26,957 shares of the company’s stock, valued at approximately $466,356.10. This represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the sale, the director now directly owns 36,689 shares in the company, valued at $405,780.34. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,702,168 shares of company stock worth $26,700,318 over the last quarter. Insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

A number of hedge funds have recently modified their holdings of FRSH. JPMorgan Chase & Co. lifted its holdings in Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after acquiring an additional 1,752,995 shares during the period. M&G PLC acquired a new stake in shares of Freshworks during the 3rd quarter worth approximately $9,094,000. Franklin Resources Inc. increased its holdings in shares of Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Freshworks in the 3rd quarter valued at $5,260,000. Finally, State Street Corp boosted its holdings in Freshworks by 7.1% during the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after buying an additional 313,982 shares in the last quarter. Hedge funds and other 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.