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

Shares of Freshworks Inc. (NASDAQ:FRSHGet Free Report) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $22.00.

FRSH has been the subject of a number of recent analyst reports. Robert W. Baird downgraded shares of Freshworks from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $16.00 in a report on Thursday, May 2nd. JMP Securities dropped their price objective on Freshworks from $29.00 to $21.00 and set a “market outperform” rating for the company in a report on Thursday, May 2nd. Morgan Stanley reduced their target price on Freshworks from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Cantor Fitzgerald dropped their target price on shares of Freshworks from $25.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Oppenheimer downgraded shares of Freshworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd.

View Our Latest Research Report on Freshworks

Freshworks Stock Down 1.0 %

Shares of Freshworks stock opened at $12.65 on Thursday. Freshworks has a fifty-two week low of $12.56 and a fifty-two week high of $24.98. The business’s fifty day moving average is $15.32 and its two-hundred day moving average is $19.03. The firm has a market cap of $3.78 billion, a PE ratio of -31.62 and a beta of 0.74.

Freshworks (NASDAQ:FRSHGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $163.53 million. Equities research analysts anticipate that Freshworks will post -0.34 EPS for the current year.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $12.73, for a total transaction of $89,555.55. Following the completion of the sale, the director now owns 19,991 shares of the company’s stock, valued at $254,485.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $12.75, for a total transaction of $107,635.50. Following the sale, the director now owns 16,535 shares in the company, valued at $210,821.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $12.73, for a total value of $89,555.55. Following the completion of the transaction, the director now owns 19,991 shares of the company’s stock, valued at approximately $254,485.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,880 shares of company stock valued at $456,665 in the last three months. Corporate insiders own 19.15% of the company’s stock.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after purchasing an additional 757 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Freshworks during the 3rd quarter valued at about $81,000. EntryPoint Capital LLC acquired a new stake in Freshworks during the first quarter worth about $82,000. Quest Partners LLC bought a new position in Freshworks in the fourth quarter worth about $166,000. Finally, SG Americas Securities LLC acquired a new position in Freshworks in the first quarter valued at approximately $179,000. 75.58% of the stock is owned by institutional investors and hedge funds.

About Freshworks

(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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Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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