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

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.3846.

A number of equities research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Freshworks from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Freshworks in a research report on Friday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Freshworks in a research note on Wednesday, October 8th. Piper Sandler lowered their price objective on Freshworks from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Finally, Zacks Research raised Freshworks from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th.

Freshworks Price Performance

FRSH opened at $11.64 on Thursday. Freshworks has a 52 week low of $10.51 and a 52 week high of $19.77. The stock has a market cap of $3.39 billion, a PE ratio of -116.39 and a beta of 0.90. The business has a 50 day moving average of $11.81 and a 200-day moving average of $13.49.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Thursday, September 11th. The company reported $0.18 EPS for the quarter. The firm had revenue of $204.68 million for the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. Equities analysts anticipate that Freshworks will post -0.19 EPS for the current year.

Insider Buying and Selling

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $12.96, for a total transaction of $60,717.60. Following the sale, the director directly owned 44,218 shares in the company, valued at approximately $573,065.28. This trade represents a 9.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $13.14, for a total value of $110,809.62. Following the completion of the sale, the director directly owned 38,870 shares of the company’s stock, valued at approximately $510,751.80. The trade was a 17.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,138 shares of company stock worth $300,202 over the last quarter. 11.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in shares of Freshworks during the 1st quarter valued at approximately $48,813,000. Nuveen LLC purchased a new position in Freshworks during the first quarter valued at approximately $35,129,000. Driehaus Capital Management LLC purchased a new position in Freshworks during the first quarter valued at approximately $34,231,000. Eminence Capital LP boosted its position in shares of Freshworks by 39.4% in the second quarter. Eminence Capital LP now owns 7,334,601 shares of the company’s stock worth $109,359,000 after purchasing an additional 2,074,641 shares during the period. Finally, Norges Bank purchased a new stake in shares of Freshworks in the second quarter worth $25,113,000. 75.58% of the stock is owned by institutional investors.

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.