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

Shares of Freshworks Inc. (NASDAQ:FRSH) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $21.07.

Several equities analysts have weighed in on the company. Robert W. Baird cut their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Oppenheimer lifted their price objective on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday. Scotiabank upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday. Morgan Stanley lifted their price target on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, JMP Securities upped their price objective on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th.

Freshworks Trading Down 2.2 %

Freshworks stock opened at $17.05 on Tuesday. The company has a market cap of $5.16 billion, a PE ratio of -50.15 and a beta of 0.91. Freshworks has a 1 year low of $10.81 and a 1 year high of $21.61. The company’s 50-day moving average is $17.00 and its two-hundred day moving average is $14.13.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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%. Research analysts forecast that Freshworks will post -0.35 EPS for the current year.

Insider Activity at Freshworks

In other news, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total transaction of $78,510.60. Following the completion of the transaction, the director now directly owns 36,689 shares of the company’s stock, valued at $614,173.86. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the sale, the director now directly owns 24,187 shares in the company, valued at approximately $442,622.10. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,727,211 shares of company stock valued at $27,224,746. 19.15% of the stock is owned by insiders.

Institutional Trading of Freshworks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Avion Wealth acquired a new position in Freshworks during the fourth quarter valued at approximately $26,000. Blue Trust Inc. boosted its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares during 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 buying an additional 1,704 shares in the last quarter. National Bank of Canada FI increased its holdings in Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after buying an additional 3,700 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after acquiring an additional 2,223 shares in the last quarter. Institutional investors and hedge funds 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.