Freshworks (NASDAQ:FRSH) PT Lowered to $15.00

Freshworks (NASDAQ:FRSH) had its target price cut by equities researchers at Barclays from $20.00 to $15.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 6.91% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. JMP Securities decreased their target price on shares of Freshworks from $29.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Freshworks in a research note on Thursday. Cantor Fitzgerald reduced their price objective on Freshworks from $25.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday. Oppenheimer lowered shares of Freshworks from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Jefferies Financial Group raised shares of Freshworks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $30.00 in a research note on Friday, January 5th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.59.

Freshworks Stock Performance

FRSH traded down $0.64 during trading hours on Friday, reaching $14.03. The company’s stock had a trading volume of 6,974,887 shares, compared to its average volume of 3,264,107. The firm has a market cap of $4.18 billion, a PE ratio of -35.07 and a beta of 0.88. The company’s 50-day moving average is $18.29 and its 200-day moving average is $19.98. Freshworks has a 52 week low of $12.22 and a 52 week high of $24.98.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The company had revenue of $160.11 million during the quarter, compared to the consensus estimate of $158.11 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. Equities analysts anticipate that Freshworks will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In related news, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $21.54, for a total transaction of $135,766.62. Following the transaction, the director now directly owns 88,431 shares of the company’s stock, valued at approximately $1,904,803.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.44, for a total value of $8,792,245.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $21.54, for a total value of $135,766.62. Following the transaction, the director now owns 88,431 shares of the company’s stock, valued at approximately $1,904,803.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 460,792 shares of company stock valued at $9,408,403. Corporate insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FRSH. Neo Ivy Capital Management purchased a new stake in Freshworks in the 3rd quarter valued at about $81,000. Quest Partners LLC purchased a new position in Freshworks in the fourth quarter worth $166,000. Steph & Co. bought a new position in Freshworks in the 1st quarter valued at $201,000. Jasper Ridge Partners L.P. bought a new stake in shares of Freshworks during the 3rd quarter worth $217,000. Finally, Northside Capital Management LLC bought a new stake in shares of Freshworks during the 4th quarter worth $226,000. Hedge funds and other institutional investors 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.