Freshworks (NASDAQ:FRSH) Price Target Cut to $15.00 by Analysts at Robert W. Baird

Freshworks (NASDAQ:FRSH) had its price target decreased by Robert W. Baird from $16.00 to $15.00 in a research note published on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other equities research analysts have also commented on FRSH. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group upped their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Scotiabank decreased their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.69.

Freshworks Stock Down 2.3 %

NASDAQ:FRSH traded down $0.38 during trading hours on Thursday, reaching $16.44. 9,375,092 shares of the company’s stock were exchanged, compared to its average volume of 2,787,160. Freshworks has a 1-year low of $10.81 and a 1-year high of $24.98. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -49.47 and a beta of 0.72. The company has a 50-day moving average of $11.55 and a 200 day moving average of $12.63.

Freshworks (NASDAQ:FRSH) last released its earnings results on Wednesday, November 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The company had revenue of $186.58 million during the quarter, compared to analysts’ expectations of $181.50 million. Research analysts forecast that Freshworks will post -0.38 EPS for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the transaction, the director now directly owns 22,530 shares in the company, valued at $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the sale, the director now owns 22,530 shares of the company’s stock, valued at $259,996.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total value of $52,331.45. Following the transaction, the director now owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,153 shares of company stock valued at $459,383. Corporate insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Freshworks by 1,987.3% during 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 during the period. Covestor Ltd boosted its stake in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares in the last quarter. CWM LLC increased its position in shares of Freshworks by 554.5% during the 2nd 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 period. Advisors Asset Management Inc. raised its stake in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after buying an additional 757 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of 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 buying an additional 2,645 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

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.