Freshworks (NASDAQ:FRSH) Given New $15.00 Price Target at Robert W. Baird

Freshworks (NASDAQ:FRSHGet Free Report) had its target price cut by Robert W. Baird from $16.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential downside of 10.29% from the company’s previous close.

FRSH has been the subject of a number of other research reports. Jefferies Financial Group reduced their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Canaccord Genuity Group boosted their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a research report on Thursday. Finally, JMP Securities boosted their target price on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.69.

Get Our Latest Stock Analysis on Freshworks

Freshworks Stock Performance

Shares of NASDAQ FRSH traded up $3.63 during trading on Thursday, reaching $16.72. The stock had a trading volume of 8,569,795 shares, compared to its average volume of 2,714,785. Freshworks has a one year low of $10.81 and a one year high of $24.98. The stock has a market cap of $5.05 billion, a PE ratio of -47.54 and a beta of 0.72. The firm’s 50 day moving average price is $11.45 and its two-hundred day moving average price is $12.60.

Freshworks (NASDAQ:FRSHGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business had revenue of $186.58 million during the quarter, compared to analyst estimates of $181.50 million. On average, research analysts expect that Freshworks will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $11.22, for a total value of $70,719.66. Following the transaction, the director now directly owns 223,106 shares in the company, valued at approximately $2,503,249.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the firm’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 completion of the transaction, the director now directly owns 23,497 shares in the company, valued at $286,428.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,456 shares of company stock worth $530,102. Insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FRSH. Blue Trust Inc. increased its holdings in Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after purchasing an additional 2,822 shares in the last quarter. Covestor Ltd lifted its stake in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the last quarter. CWM LLC lifted its stake in Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Freshworks by 34.2% in 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. Finally, Quarry LP lifted its stake in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after purchasing an additional 2,645 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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