Analysts Set Freshworks Inc. (NASDAQ:FRSH) PT at $25.00

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $25.00.

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Freshworks in a report on Wednesday, February 7th. Jefferies Financial Group raised shares of Freshworks from a “hold” rating to a “buy” rating and increased their target price for the company from $20.00 to $30.00 in a research report on Friday, January 5th. JMP Securities lifted their price target on shares of Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 7th. Needham & Company LLC lifted their price target on shares of Freshworks from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, Piper Sandler lifted their price target on shares of Freshworks from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd.

Insider Activity

In other news, Director Barry L. Padgett sold 4,690 shares of Freshworks stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $22.39, for a total value of $105,009.10. Following the sale, the director now owns 17,387 shares of the company’s stock, valued at $389,294.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Johanna Flower sold 4,800 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $23.15, for a total transaction of $111,120.00. Following the sale, the director now owns 23,451 shares of the company’s stock, valued at $542,890.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barry L. Padgett sold 4,690 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $22.39, for a total transaction of $105,009.10. Following the sale, the director now directly owns 17,387 shares in the company, valued at approximately $389,294.93. The disclosure for this sale can be found here. Insiders have sold a total of 462,467 shares of company stock valued at $9,483,143 over the last quarter. Corporate insiders own 26.66% of the company’s stock.

Institutional Trading of Freshworks

A number of institutional investors have recently added to or reduced their stakes in FRSH. BlackRock Inc. boosted its holdings in Freshworks by 210.2% during the second quarter. BlackRock Inc. now owns 11,984,191 shares of the company’s stock worth $210,682,000 after buying an additional 8,120,351 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Freshworks by 37.9% in the third quarter. Vanguard Group Inc. now owns 12,599,434 shares of the company’s stock valued at $163,415,000 after purchasing an additional 3,460,129 shares in the last quarter. State Street Corp lifted its holdings in shares of Freshworks by 239.7% in the second quarter. State Street Corp now owns 3,294,195 shares of the company’s stock valued at $57,912,000 after purchasing an additional 2,324,432 shares in the last quarter. Soros Fund Management LLC purchased a new stake in shares of Freshworks in the first quarter valued at about $34,883,000. Finally, Norges Bank purchased a new stake in shares of Freshworks in the fourth quarter valued at about $44,919,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

FRSH stock opened at $18.09 on Friday. The company’s 50 day moving average price is $20.32 and its 200 day moving average price is $20.30. Freshworks has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -38.49 and a beta of 0.93.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. The firm had revenue of $160.11 million for the quarter, compared to analyst estimates of $158.11 million. Equities analysts forecast that Freshworks will post -0.37 EPS for the current fiscal year.

Freshworks Company Profile

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.