Analysts Set Freshworks Inc. (NASDAQ:FRSH) Target Price at $19.23

Freshworks Inc. (NASDAQ:FRSH) has been given an average recommendation of “Hold” by the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.2308.

FRSH has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Freshworks in a report on Tuesday, September 30th. They set an “equal weight” rating and a $13.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Freshworks in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Freshworks in a report on Friday, November 14th. Wall Street Zen upgraded shares of Freshworks from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Freshworks in a research note on Friday, September 12th.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $13.44 on Monday. Freshworks has a fifty-two week low of $10.51 and a fifty-two week high of $19.77. The company has a market cap of $3.79 billion, a PE ratio of -134.39 and a beta of 0.89. The business has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $13.13.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Thursday, September 11th. The company reported $0.18 EPS for the quarter. The firm had revenue of $204.68 million during the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. On average, sell-side analysts predict that Freshworks will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 15,012 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $13.00, for a total transaction of $195,156.00. Following the sale, the insider directly owned 490,350 shares of the company’s stock, valued at approximately $6,374,550. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dennis Woodside acquired 176,100 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $11.31 per share, with a total value of $1,991,691.00. Following the acquisition, the chief executive officer owned 2,111,517 shares in the company, valued at approximately $23,881,257.27. This trade represents a 9.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 24,958 shares of company stock valued at $315,787 in the last three months. Company insiders own 11.17% of the company’s stock.

Institutional Investors Weigh In On Freshworks

A number of institutional investors have recently modified their holdings of FRSH. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Freshworks in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in Freshworks in the 3rd quarter worth $27,000. Rothschild Investment LLC raised its position in Freshworks by 560.0% during the third quarter. Rothschild Investment LLC now owns 2,277 shares of the company’s stock worth $27,000 after acquiring an additional 1,932 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Freshworks by 136.2% during the third quarter. SBI Securities Co. Ltd. now owns 2,745 shares of the company’s stock valued at $32,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Freshworks in the third quarter valued at about $67,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.