Freshworks (NASDAQ:FRSH) Given New $14.00 Price Target at Wells Fargo & Company

Freshworks (NASDAQ:FRSH) had its target price boosted by Wells Fargo & Company from $11.00 to $14.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the company. 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. Barclays decreased their price target on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler upped their price target on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Freshworks in a report on Thursday. 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 report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Freshworks Price Performance

Shares of NASDAQ:FRSH traded down $0.38 during trading on Thursday, hitting $16.44. 10,458,698 shares of the company were exchanged, compared to its average volume of 2,787,160. The company has a market cap of $4.97 billion, a PE ratio of -49.47 and a beta of 0.72. The stock has a 50 day moving average of $11.55 and a 200 day moving average of $12.63. Freshworks has a 52-week low of $10.81 and a 52-week high of $24.98.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $186.58 million for 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%. Sell-side analysts forecast that Freshworks will post -0.38 EPS for the current fiscal year.

Insider Activity at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated 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 owns 23,497 shares in the company, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated 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 owns 23,497 shares in the company, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated 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 owns 35,853 shares in the company, valued at approximately $402,629.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,153 shares of company stock valued at $459,383 over the last 90 days. 19.15% of the stock is owned by insiders.

Institutional Trading of Freshworks

Several large investors have recently modified their holdings of FRSH. Allspring Global Investments Holdings LLC grew its stake in shares of Freshworks by 9.2% in 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 during the last quarter. Private Advisor Group LLC bought a new stake in shares of Freshworks in the first quarter worth about $685,000. SG Americas Securities LLC bought a new stake in shares of Freshworks in the first quarter worth about $179,000. Oppenheimer & Co. Inc. bought a new stake in shares of Freshworks in the first quarter worth about $444,000. Finally, Swiss National Bank boosted its position in Freshworks by 7.6% during the 1st quarter. Swiss National Bank now owns 319,400 shares of the company’s stock valued at $5,816,000 after acquiring an additional 22,500 shares in the last quarter. 75.58% of the stock is 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.