Freshworks Inc. (NASDAQ:FRSH) Receives $19.07 Average PT from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have received an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $21.07.

FRSH has been the topic of several recent research reports. StockNews.com upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Scotiabank lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Oppenheimer boosted their target price on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th.

Freshworks Stock Down 2.2 %

Shares of FRSH opened at $17.05 on Tuesday. The firm has a market cap of $5.16 billion, a PE ratio of -50.15 and a beta of 0.91. The company’s fifty day moving average is $17.01 and its two-hundred day moving average is $14.18. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $21.61.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. As a group, equities research analysts anticipate that Freshworks will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Barry L. Padgett sold 2,345 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total transaction of $40,568.50. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at $466,356.10. This trade represents a 8.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the transaction, the insider now owns 397,390 shares of the company’s stock, valued at approximately $7,268,263.10. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,727,211 shares of company stock worth $27,224,746. 19.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshworks

Several large investors have recently modified their holdings of the stock. Avion Wealth acquired a new position in shares of Freshworks in the fourth quarter valued at about $26,000. Blue Trust Inc. grew its stake in shares of Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares in the last quarter. Covestor Ltd grew its stake in shares of 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 acquiring an additional 1,704 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Freshworks by 1,385.8% in the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after acquiring an additional 2,223 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.