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

Freshworks Inc. (NASDAQ:FRSH) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $21.07.

FRSH has been the subject of several recent analyst reports. Oppenheimer increased their target price on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird reduced their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Cantor Fitzgerald increased their price target on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st.

Insider Transactions at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the completion of the transaction, the director now owns 24,187 shares in the company, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Rathnagirish Mathrubootham sold 830,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.33, for a total value of $12,723,900.00. Following the sale, the chairman now owns 551,137 shares in the company, valued at approximately $8,448,930.21. This trade represents a 60.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,727,211 shares of company stock valued at $27,224,746. Corporate insiders own 19.15% of the company’s stock.

Hedge Funds Weigh In On Freshworks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Freshworks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock worth $405,283,000 after buying an additional 1,357,526 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after acquiring an additional 1,752,995 shares during the last quarter. State Street Corp lifted its position in shares of Freshworks by 7.1% during the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after purchasing an additional 313,982 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Freshworks by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company’s stock valued at $75,588,000 after purchasing an additional 79,388 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Stock Down 2.2 %

Shares of Freshworks stock opened at $17.05 on Tuesday. Freshworks has a 12-month low of $10.81 and a 12-month high of $21.61. The stock has a 50 day moving average price of $17.00 and a two-hundred day moving average price of $14.13. The stock has a market capitalization of $5.16 billion, a P/E ratio of -50.15 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. Sell-side analysts anticipate that Freshworks will post -0.35 earnings per share for the current year.

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.