Freshworks’ (FRSH) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Freshworks (NASDAQ:FRSH) in a research report released on Monday, Benzinga reports. The firm currently has a $25.00 target price on the stock.

A number of other research analysts have also weighed in on FRSH. Morgan Stanley raised their price target on shares of Freshworks from $22.00 to $24.00 and gave the company an equal weight rating in a research report on Monday, September 11th. Credit Suisse Group upped their price target on shares of Freshworks from $19.00 to $22.00 and gave the company a neutral rating in a report on Friday, September 8th. StockNews.com began coverage on shares of Freshworks in a report on Thursday, August 17th. They set a hold rating for the company. UBS Group upped their price target on shares of Freshworks from $23.00 to $27.00 and gave the company a buy rating in a report on Friday, September 8th. Finally, Needham & Company LLC reiterated a buy rating and set a $25.00 price target on shares of Freshworks in a report on Wednesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $24.14.

Freshworks Stock Down 0.6 %

Shares of FRSH opened at $19.89 on Monday. Freshworks has a 12 month low of $11.92 and a 12 month high of $23.80. The company has a 50-day moving average price of $20.31 and a two-hundred day moving average price of $16.88. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of -30.14 and a beta of 0.82.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, August 1st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $145.08 million during the quarter, compared to analyst estimates of $141.22 million. Freshworks had a negative net margin of 35.18% and a negative return on equity of 17.62%. Equities research analysts expect that Freshworks will post -0.53 EPS for the current fiscal year.

Insider Transactions at Freshworks

In related news, insider Srinivasagopalan Ramamurthy sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $20.05, for a total value of $1,002,500.00. Following the sale, the insider now owns 605,394 shares of the company’s stock, valued at approximately $12,138,149.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Rathnagirish Mathrubootham sold 610,600 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $20.04, for a total value of $12,236,424.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Srinivasagopalan Ramamurthy sold 50,000 shares of Freshworks stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the sale, the insider now directly owns 605,394 shares of the company’s stock, valued at approximately $12,138,149.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,881,590 shares of company stock worth $38,697,384 in the last three months. 26.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

Several large investors have recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new position in shares of Freshworks in the first quarter valued at $35,000. Quarry LP purchased a new stake in shares of Freshworks in the second quarter valued at about $35,000. UBS Group AG raised its holdings in shares of Freshworks by 117.5% in the third quarter. UBS Group AG now owns 3,574 shares of the company’s stock valued at $46,000 after purchasing an additional 1,931 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Freshworks in the first quarter valued at about $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Freshworks in the second quarter valued at about $65,000. 57.35% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Company Profile

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. It offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, and modern channels, such as messaging and social media; Freshdesk Contact Center that offers agents with cloud-based telephony system to connect with customers that supports complex call-flows, number and call management, IVR, and routing needs, as well as live dashboard and reports; and Freshdesk Customer Success, which helps customer success managers at business to business (B2B) subscription companies.