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

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.69.

A number of analysts recently issued reports on FRSH shares. Robert W. Baird lowered their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Piper Sandler raised their price target on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Freshworks Price Performance

Shares of FRSH stock opened at $16.35 on Thursday. The stock has a 50-day moving average of $13.34 and a 200-day moving average of $12.65. Freshworks has a one year low of $10.81 and a one year high of $24.98. The stock has a market cap of $4.95 billion, a PE ratio of -48.09 and a beta of 0.90.

Insiders Place Their Bets

In related news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the transaction, the director now owns 23,497 shares in the company, valued at approximately $259,406.88. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares in the company, valued at $405,780.34. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,250 shares of company stock worth $300,201 in the last 90 days. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FRSH. Advisors Asset Management Inc. grew its position in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after acquiring an additional 757 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Freshworks by 0.5% in the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after acquiring an additional 831 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Freshworks in the second quarter worth approximately $144,000. CWM LLC lifted its stake in shares of Freshworks by 554.5% in 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 during the period. Finally, Renaissance Capital LLC lifted its stake in shares of Freshworks by 72.0% in the second quarter. Renaissance Capital LLC now owns 181,789 shares of the company’s stock worth $2,307,000 after acquiring an additional 76,092 shares during the period. 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.