Freshworks Inc. (NASDAQ:FRSH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.07.

A number of brokerages have recently weighed in on FRSH. Wall Street Zen upgraded Freshworks from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 29th. Cantor Fitzgerald raised Freshworks to an “overweight” rating and set a $20.00 target price for the company in a research report on Tuesday, June 3rd. Oppenheimer cut their target price on Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group dropped their price objective on Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, March 31st. Finally, UBS Group cut their price objective on Freshworks from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 2nd.

Insiders Place Their Bets

In other Freshworks news, Director Johanna Flower sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the transaction, the director owned 48,094 shares of the company’s stock, valued at approximately $711,791.20. This trade represents a 14.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry L. Padgett sold 7,558 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total value of $114,428.12. Following the transaction, the director owned 32,635 shares in the company, valued at approximately $494,093.90. This trade represents a 18.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,075 shares of company stock worth $3,219,261. 11.17% of the stock is currently owned by company insiders.

Institutional Trading of Freshworks

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in Freshworks by 18.1% during the 1st quarter. Rhumbline Advisers now owns 325,704 shares of the company’s stock worth $4,596,000 after purchasing an additional 49,873 shares in the last quarter. Strs Ohio bought a new stake in Freshworks during the 1st quarter valued at $830,000. Diker Management LLC increased its stake in shares of Freshworks by 4.3% in the 1st quarter. Diker Management LLC now owns 120,526 shares of the company’s stock valued at $1,701,000 after purchasing an additional 5,000 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Freshworks during the 1st quarter worth approximately $2,734,000. Finally, Intech Investment Management LLC increased its position in shares of Freshworks by 40.9% during the first quarter. Intech Investment Management LLC now owns 154,170 shares of the company’s stock worth $2,175,000 after acquiring an additional 44,761 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Stock Up 1.9%

Freshworks stock opened at $14.19 on Friday. Freshworks has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -59.12 and a beta of 0.95. The firm’s fifty day moving average is $15.02 and its 200 day moving average is $15.45.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $196.27 million for the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, equities research analysts anticipate that Freshworks will post -0.19 earnings per share for the current fiscal year.

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.