Freshworks Inc. (NASDAQ:FRSH) Receives Consensus Rating of “Hold” from Analysts

Freshworks Inc. (NASDAQ:FRSH) has earned an average rating of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.14.

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company lowered shares of Freshworks from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $16.00 to $13.00 in a research note on Tuesday, January 21st. Cantor Fitzgerald increased their target price on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. UBS Group set a $22.00 price target on Freshworks in a research report on Thursday, February 6th. Finally, Morgan Stanley increased their price objective on Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th.

Insider Transactions at Freshworks

In related news, insider Mika Yamamoto sold 3,574 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total transaction of $50,750.80. Following the sale, the insider now owns 611,604 shares of the company’s stock, valued at approximately $8,684,776.80. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Johanna Flower sold 21,400 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total transaction of $385,200.00. Following the completion of the transaction, the director now directly owns 41,491 shares of the company’s stock, valued at approximately $746,838. This trade represents a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,262 shares of company stock valued at $955,812 in the last ninety days. 19.15% of the stock is currently owned by company insiders.

Institutional Trading of Freshworks

A number of institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Freshworks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company’s stock worth $17,872,000 after buying an additional 24,558 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Freshworks by 8.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company’s stock worth $462,000 after acquiring an additional 3,182 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Freshworks by 1,099.9% in the third quarter. Verition Fund Management LLC now owns 211,171 shares of the company’s stock valued at $2,424,000 after purchasing an additional 193,572 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Freshworks in the third quarter valued at about $1,193,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Freshworks in the third quarter valued at approximately $57,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Price Performance

Shares of FRSH opened at $12.29 on Wednesday. The firm has a fifty day moving average price of $16.51 and a 200 day moving average price of $15.19. The stock has a market cap of $3.71 billion, a PE ratio of -38.41 and a beta of 0.98. Freshworks has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. As a group, equities analysts expect that Freshworks will post -0.19 EPS 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.