Freshworks (NASDAQ:FRSH) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Freshworks (NASDAQ:FRSHGet Rating) in a research note published on Tuesday morning, The Fly reports. The firm issued an overweight rating and a $18.00 target price on the stock.

Several other brokerages also recently issued reports on FRSH. Credit Suisse Group assumed coverage on Freshworks in a report on Monday, November 21st. They set a neutral rating and a $14.00 price target for the company. Canaccord Genuity Group reissued a hold rating and issued a $15.00 price objective on shares of Freshworks in a research report on Wednesday, January 4th. Piper Sandler cut their price objective on Freshworks from $17.00 to $16.00 and set an overweight rating on the stock in a research report on Monday, January 9th. StockNews.com began coverage on Freshworks in a research report on Wednesday, October 12th. They issued a sell rating on the stock. Finally, Jefferies Financial Group cut their price objective on Freshworks from $15.00 to $14.00 and set a hold rating on the stock in a research report on Monday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $17.25.

Freshworks Stock Up 0.5 %

NASDAQ FRSH opened at $15.31 on Tuesday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -17.01 and a beta of 0.62. Freshworks has a 52 week low of $10.51 and a 52 week high of $23.72. The business has a 50 day moving average price of $14.47 and a 200-day moving average price of $14.08.

Freshworks (NASDAQ:FRSHGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). Freshworks had a negative return on equity of 20.74% and a negative net margin of 53.45%. The business had revenue of $128.76 million during the quarter, compared to the consensus estimate of $125.07 million. On average, equities research analysts anticipate that Freshworks will post -0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Freshworks news, Director Barry L. Padgett sold 32,809 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $12.50, for a total value of $410,112.50. Following the completion of the transaction, the director now owns 16,428 shares in the company, valued at approximately $205,350. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Barry L. Padgett sold 32,809 shares of Freshworks stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $12.50, for a total transaction of $410,112.50. Following the completion of the sale, the director now owns 16,428 shares in the company, valued at approximately $205,350. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi purchased 295,000 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were acquired at an average price of $13.89 per share, with a total value of $4,097,550.00. Following the transaction, the director now owns 2,462,030 shares in the company, valued at approximately $34,197,596.70. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,010,901 shares of company stock worth $14,604,578 and sold 110,166 shares worth $1,555,696. 29.12% of the stock is owned by corporate insiders.

Institutional Trading of Freshworks

A number of large investors have recently modified their holdings of FRSH. UBS Group AG raised its holdings in shares of Freshworks by 117.5% during the 3rd quarter. UBS Group AG now owns 3,574 shares of the company’s stock valued at $46,000 after buying an additional 1,931 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Freshworks during the 3rd quarter valued at about $49,000. Quantbot Technologies LP purchased a new position in shares of Freshworks during the 1st quarter valued at about $59,000. Virtu Financial LLC purchased a new position in shares of Freshworks during the 3rd quarter valued at about $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Freshworks during the 2nd quarter valued at about $136,000. Institutional investors own 46.36% of the company’s stock.

Freshworks Company Profile

(Get Rating)

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

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