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

Freshworks Inc. (NASDAQ:FRSH) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.07.

Several equities research analysts have commented on FRSH shares. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Freshworks in a research note on Monday, March 17th. Jefferies Financial Group dropped their target price on Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Piper Sandler reaffirmed an “overweight” rating and set a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. Scotiabank raised their price target on Freshworks from $14.00 to $18.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Freshworks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 29th.

Insider Buying and Selling at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total value of $124,808.40. Following the completion of the transaction, the director directly owned 38,870 shares of the company’s stock, valued at approximately $575,276. This trade represents a 17.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 7,558 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the completion of the transaction, the director directly owned 44,218 shares in the company, valued at approximately $669,018.34. The trade was a 14.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,390 shares of company stock worth $3,152,406 over the last quarter. Insiders own 11.17% of the company’s stock.

Institutional Trading of Freshworks

Institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI grew its position in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after acquiring an additional 3,700 shares during the period. FNY Investment Advisers LLC bought a new position in Freshworks in the 1st quarter worth about $70,000. Covestor Ltd boosted its stake in shares of Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company’s stock valued at $76,000 after purchasing an additional 1,087 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Freshworks by 91.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company’s stock valued at $84,000 after purchasing an additional 2,814 shares in the last quarter. Finally, Quarry LP lifted its position in Freshworks by 47.8% during the fourth quarter. Quarry LP now owns 5,410 shares of the company’s stock valued at $87,000 after acquiring an additional 1,750 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Stock Down 4.1%

FRSH opened at $14.73 on Friday. The stock has a market cap of $4.35 billion, a PE ratio of -61.37 and a beta of 0.95. The business has a 50 day moving average of $15.07 and a 200-day moving average of $15.51. Freshworks has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million during the quarter, compared to analysts’ expectations of $191.90 million. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. Equities analysts anticipate that Freshworks will post -0.19 EPS for the current 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.