Robert W. Baird Issues Pessimistic Forecast for Freshworks (NASDAQ:FRSH) Stock Price

by · The Markets Daily

Freshworks (NASDAQ:FRSH – Free Report) had its price target reduced by Robert W. Baird from $18.00 to $16.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also weighed in on FRSH. Morgan Stanley lowered their price objective on Freshworks from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, September 12th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Freshworks in a research report on Friday, September 12th. Wall Street Zen downgraded shares of Freshworks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 23rd. Cantor Fitzgerald upgraded shares of Freshworks to an “overweight” rating and set a $20.00 price target for the company in a research report on Tuesday, June 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Freshworks in a research report on Friday, September 12th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Get Our Latest Stock Report on Freshworks

Freshworks Trading Up 1.3%

Shares of FRSH opened at $12.72 on Monday. Freshworks has a twelve month low of $10.81 and a twelve month high of $19.77. The stock’s 50 day moving average is $13.42 and its two-hundred day moving average is $14.22. The firm has a market capitalization of $3.71 billion, a PE ratio of -70.66 and a beta of 0.94.

Freshworks (NASDAQ:FRSH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The company had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, sell-side analysts predict that Freshworks will post -0.19 EPS for the current year.

Insider Buying and Selling

In other Freshworks news, Director Johanna Flower sold 8,000 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total value of $118,400.00. Following the completion of the transaction, the director directly owned 48,094 shares in the company, valued at approximately $711,791.20. The trade was a 14.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barry L. Padgett sold 7,558 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total transaction of $114,428.12. Following the sale, the director directly owned 32,635 shares of the company’s stock, valued at $494,093.90. This represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,771 shares of company stock worth $1,139,991 in the last three months. 11.17% of the stock is currently owned by insiders.

Institutional Trading of Freshworks

Several institutional investors have recently made changes to their positions in FRSH. Wellington Management Group LLP purchased a new stake in shares of Freshworks during the 1st quarter valued at $48,813,000. Nuveen LLC purchased a new stake in Freshworks during the 1st quarter worth $35,129,000. Driehaus Capital Management LLC purchased a new stake in Freshworks during the 1st quarter worth $34,231,000. Eminence Capital LP boosted its position in Freshworks by 39.4% during the 2nd quarter. Eminence Capital LP now owns 7,334,601 shares of the company’s stock worth $109,359,000 after purchasing an additional 2,074,641 shares during the period. Finally, Norges Bank purchased a new stake in Freshworks during the 2nd quarter worth $25,113,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Company Profile

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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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