Freshworks Inc. (NASDAQ:FRSH) Receives $18.69 Consensus Target Price from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.38.

Several analysts recently issued reports on FRSH shares. Scotiabank reduced their price target on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research report on Wednesday, July 31st. Barclays cut their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective on Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the transaction, the director now directly owns 36,689 shares in the company, valued at $405,780.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the sale, the director now owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $11.22, for a total value of $70,719.66. Following the transaction, the director now directly owns 223,106 shares of the company’s stock, valued at approximately $2,503,249.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,245 shares of company stock worth $533,811. 19.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Freshworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in shares of Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after buying an additional 757 shares in the last quarter. CWM LLC lifted its position in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares in the last quarter. Quarry LP boosted its holdings in shares of Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Freshworks in the first quarter valued at $82,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Freshworks during the 2nd quarter valued at $58,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Trading Up 2.8 %

FRSH opened at $11.47 on Wednesday. The company has a fifty day moving average price of $11.39 and a two-hundred day moving average price of $13.35. Freshworks has a 1-year low of $10.81 and a 1-year high of $24.98. The company has a market cap of $3.43 billion, a P/E ratio of -28.68 and a beta of 0.73.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business had revenue of $174.13 million for the quarter, compared to the consensus estimate of $169.05 million. During the same period in the prior year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts forecast that Freshworks will post -0.38 EPS for the current fiscal 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.