Analysts Set Freshworks Inc. (NASDAQ:FRSH) Price Target at $19.29

Freshworks Inc. (NASDAQ:FRSH) has been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.07.

Several research analysts have recently weighed in on FRSH shares. Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $16.00 to $13.00 in a research note on Tuesday. Morgan Stanley upped their target price on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research note on Wednesday, January 15th. Finally, Piper Sandler upped their target price on shares of Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, January 6th.

Insiders Place Their Bets

In other Freshworks news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $16.08, for a total transaction of $13,426,800.00. Following the sale, the chairman now directly owns 551,137 shares of the company’s stock, valued at approximately $8,862,282.96. This represents a 60.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the sale, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. This trade represents a 26.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,702,163 shares of company stock valued at $26,721,018. Company insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

Large investors have recently modified their holdings of the company. Quantbot Technologies LP increased its holdings in shares of Freshworks by 80.1% in the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after acquiring an additional 189,616 shares during the period. Barclays PLC increased its holdings in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after acquiring an additional 84,568 shares during the period. Sei Investments Co. increased its holdings in shares of Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after acquiring an additional 63,006 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Freshworks in the 3rd quarter worth about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Freshworks by 806.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after acquiring an additional 209,194 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Stock Up 4.5 %

Freshworks stock opened at $18.04 on Friday. Freshworks has a 52-week low of $10.81 and a 52-week high of $23.30. The firm has a fifty day moving average of $16.23 and a 200-day moving average of $13.51. The firm has a market capitalization of $5.46 billion, a P/E ratio of -53.06 and a beta of 0.88.

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.