Freshworks Inc. (NASDAQ:FRSH) Receives $25.00 Consensus Target Price from Brokerages

Freshworks Inc. (NASDAQ:FRSH) has been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.00.

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Freshworks in a report on Wednesday, February 7th. Wolfe Research upgraded shares of Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Tuesday, February 20th. JMP Securities increased their price objective 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 increased their price objective 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, Jefferies Financial Group upgraded shares of Freshworks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $30.00 in a research note on Friday, January 5th.

Freshworks Stock Down 0.3 %

FRSH opened at $17.59 on Wednesday. The company has a fifty day simple moving average of $18.94 and a 200 day simple moving average of $20.05. The stock has a market cap of $5.24 billion, a P/E ratio of -37.43 and a beta of 0.90. Freshworks has a 12 month low of $12.22 and a 12 month high of $24.98.

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

Insider Activity at Freshworks

In other Freshworks news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.44, for a total value of $8,792,245.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Freshworks news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.44, for a total value of $8,792,245.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total transaction of $127,192.80. Following the completion of the sale, the director now owns 19,991 shares in the company, valued at approximately $361,437.28. The disclosure for this sale can be found here. Insiders have sold 460,792 shares of company stock valued at $9,408,403 over the last three months. 26.66% of the stock is owned by insiders.

Institutional Trading of Freshworks

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its holdings in shares of Freshworks by 373.8% during the third quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company’s stock worth $33,000 after purchasing an additional 1,312 shares during the period. Quarry LP acquired a new position in shares of Freshworks during the second quarter worth $35,000. UBS Group AG lifted its holdings in shares of Freshworks by 117.5% during the third quarter. UBS Group AG now owns 3,574 shares of the company’s stock worth $46,000 after purchasing an additional 1,931 shares during the period. Quantbot Technologies LP acquired a new position in shares of Freshworks during the first quarter worth $59,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Freshworks during the third quarter worth $81,000. 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.