Freshworks (NASDAQ:FRSH) Earns “Buy” Rating from Needham & Company LLC

Freshworks (NASDAQ:FRSH)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $25.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 100.80% from the company’s current price.

FRSH has been the subject of several other research reports. Piper Sandler boosted their price target on shares of Freshworks from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Cantor Fitzgerald raised shares of Freshworks to an “overweight” rating and set a $20.00 price target for the company in a report on Tuesday, June 3rd. Finally, Wall Street Zen cut shares of Freshworks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 23rd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $20.14.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $12.45 on Friday. The firm has a market cap of $3.63 billion, a PE ratio of -69.16 and a beta of 0.94. The firm has a fifty day moving average of $13.57 and a 200 day moving average of $14.29. Freshworks has a one year low of $10.81 and a one year high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The company had revenue of $204.68 million during the quarter, compared to analyst estimates of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, equities analysts predict that Freshworks will post -0.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Johanna Flower sold 8,000 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the transaction, the director owned 48,094 shares of the company’s stock, valued at approximately $711,791.20. The trade was a 14.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barry L. Padgett sold 7,558 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total transaction of $114,428.12. Following the transaction, the director directly owned 32,635 shares in the company, valued at approximately $494,093.90. The trade was a 18.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,181 shares of company stock worth $1,107,538. Insiders own 11.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FRSH. Ameriprise Financial Inc. boosted its position in shares of Freshworks by 34.9% during the 4th quarter. Ameriprise Financial Inc. now owns 369,370 shares of the company’s stock valued at $5,973,000 after acquiring an additional 95,463 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Freshworks during the 4th quarter valued at about $190,000. Deutsche Bank AG boosted its position in shares of Freshworks by 15.8% during the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company’s stock valued at $8,308,000 after acquiring an additional 70,001 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in Freshworks by 81.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 108,972 shares of the company’s stock valued at $1,762,000 after buying an additional 48,950 shares during the period. Finally, Focus Partners Wealth purchased a new stake in Freshworks in the 4th quarter valued at about $167,000. Institutional investors and hedge funds 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.