Freshworks Inc. (NASDAQ:FRSH) Receives $17.54 Consensus Price Target from Brokerages

Freshworks Inc. (NASDAQ:FRSH) has been given an average rating of “Moderate Buy” by the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.69.

A number of brokerages have recently weighed in on FRSH. Barclays cut their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler increased their target price on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research report on Thursday. Finally, Scotiabank cut their price target on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st.

Freshworks Trading Down 2.3 %

FRSH stock opened at $16.44 on Friday. The stock has a 50-day moving average price of $11.64 and a 200-day moving average price of $12.57. Freshworks has a 1-year low of $10.81 and a 1-year high of $24.98. The firm has a market cap of $4.97 billion, a PE ratio of -48.35 and a beta of 0.72.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Wednesday, November 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $186.58 million during the quarter, compared to analyst estimates of $181.50 million. Freshworks had a negative return on equity of 8.66% and a negative net margin of 14.80%. On average, analysts forecast that Freshworks will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the completion of the transaction, the director now owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the transaction, the director now owns 23,497 shares of the company’s stock, valued at approximately $259,406.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at $400,478.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,153 shares of company stock worth $459,383 over the last three months. Company insiders own 19.15% of the company’s stock.

Hedge Funds Weigh In On Freshworks

A number of institutional investors and hedge funds have recently made changes to their positions in FRSH. Capital International Investors bought a new stake in shares of Freshworks during the first quarter valued at approximately $59,311,000. Clearbridge Investments LLC increased its position in shares of Freshworks by 107.4% during the first quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock valued at $73,764,000 after acquiring an additional 2,097,280 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Freshworks by 6.8% during the first quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after acquiring an additional 1,354,530 shares in the last quarter. M&G PLC bought a new stake in shares of Freshworks during the third quarter valued at approximately $9,094,000. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Freshworks during the second quarter valued at approximately $9,133,000. Institutional investors own 75.58% of the company’s stock.

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.