Freshworks Inc. (NASDAQ:FRSH) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Freshworks Inc. (NASDAQ:FRSH – Get Free Report) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.14.

FRSH has been the topic of several analyst reports. Robert W. Baird set a $18.00 price target on Freshworks in a research report on Wednesday, February 12th. JMP Securities set a $27.00 target price on Freshworks in a report on Wednesday, February 12th. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Barclays raised their price objective on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC boosted their target price on shares of Freshworks from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th.

Get Our Latest Stock Analysis on Freshworks

Insiders Place Their Bets

In related news, Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total transaction of $40,568.50. Following the completion of the sale, the director now owns 26,957 shares of the company’s stock, valued at approximately $466,356.10. This represents a 8.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mika Yamamoto sold 5,718 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total value of $96,920.10. Following the completion of the sale, the insider now owns 403,108 shares of the company’s stock, valued at $6,832,680.60. This trade represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,735,263 shares of company stock valued at $27,361,209 in the last 90 days. 19.15% of the stock is owned by insiders.

Institutional Trading of Freshworks

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of Freshworks by 121.2% in the third quarter. International Assets Investment Management LLC now owns 10,056 shares of the company’s stock valued at $115,000 after purchasing an additional 5,510 shares during the period. M&G PLC acquired a new position in Freshworks in the 3rd quarter valued at about $9,094,000. Covestor Ltd grew its stake in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Freshworks by 19.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 163,392 shares of the company’s stock worth $1,876,000 after buying an additional 27,139 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Freshworks during the 3rd quarter valued at approximately $383,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Stock Down 0.1 %

Freshworks stock opened at $14.82 on Friday. Freshworks has a 52 week low of $10.81 and a 52 week high of $19.77. The stock has a 50-day moving average price of $17.18 and a 200 day moving average price of $14.77. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -46.31 and a beta of 0.92.

Freshworks (NASDAQ:FRSH – Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Research analysts anticipate that Freshworks will post -0.19 EPS for the current fiscal year.

Freshworks Company Profile

(Get Free Report

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.

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