Freshworks (NASDAQ:FRSH) Price Target Raised to $20.00 at Barclays

Freshworks (NASDAQ:FRSH) had its target price upped by Barclays from $14.00 to $20.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

FRSH has been the topic of several other reports. JMP Securities lifted their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Piper Sandler lifted their target price on shares of Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a report on Wednesday, January 15th. Finally, Wells Fargo & Company cut shares of Freshworks from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.07.

Freshworks Price Performance

FRSH stock opened at $17.80 on Wednesday. Freshworks has a one year low of $10.81 and a one year high of $21.61. The company’s 50 day moving average price is $16.97 and its two-hundred day moving average price is $14.08.

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

Insider Activity

In related news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total value of $78,510.60. Following the transaction, the director now owns 36,689 shares in the company, valued at $614,173.86. The trade was a 11.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.29, for a total transaction of $52,291.11. Following the completion of the transaction, the insider now owns 397,390 shares in the company, valued at approximately $7,268,263.10. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,727,211 shares of company stock worth $27,224,746. Corporate insiders own 19.15% of the company’s stock.

Hedge Funds Weigh In On Freshworks

A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in Freshworks by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 146,276 shares of the company’s stock worth $2,365,000 after purchasing an additional 31,405 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Freshworks in the 4th quarter worth about $1,750,000. Bryce Point Capital LLC purchased a new position in Freshworks in the 4th quarter worth about $571,000. Trexquant Investment LP raised its position in Freshworks by 364.6% in the 4th quarter. Trexquant Investment LP now owns 915,887 shares of the company’s stock worth $14,810,000 after buying an additional 718,763 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Freshworks in the 4th quarter worth about $1,401,000. Institutional investors own 75.58% of the company’s stock.

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.