Freshworks Inc. (NASDAQ:FRSH) Given Consensus Recommendation of “Hold” by Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given a consensus rating of “Hold” by the sixteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.2308.

Several brokerages have commented on FRSH. Canaccord Genuity Group lowered their price objective on shares of Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company initiated coverage on Freshworks in a research report on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 target price for the company. UBS Group restated a “buy” rating and set a $17.00 price target on shares of Freshworks in a research report on Friday, November 14th. Morgan Stanley reduced their price target on Freshworks from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, September 12th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Freshworks in a research report on Monday, December 15th.

Insider Buying and Selling

In other news, CAO Philippa Lawrence sold 5,846 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $12.06, for a total transaction of $70,502.76. Following the completion of the transaction, the chief accounting officer directly owned 392,711 shares of the company’s stock, valued at $4,736,094.66. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dennis Woodside bought 176,100 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $11.31 per share, with a total value of $1,991,691.00. Following the completion of the purchase, the chief executive officer owned 2,111,517 shares in the company, valued at approximately $23,881,257.27. The trade was a 9.10% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 22,368 shares of company stock valued at $283,335 over the last ninety days. Insiders own 11.17% of the company’s stock.

Institutional Investors Weigh In On Freshworks

A number of hedge funds have recently modified their holdings of the business. Eminence Capital LP raised its stake in Freshworks by 39.4% during the 2nd quarter. Eminence Capital LP now owns 7,334,601 shares of the company’s stock worth $109,359,000 after acquiring an additional 2,074,641 shares during the period. Wellington Management Group LLP increased its stake in shares of Freshworks by 9.5% in the third quarter. Wellington Management Group LLP now owns 4,906,157 shares of the company’s stock worth $57,745,000 after purchasing an additional 424,866 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Freshworks by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,856,163 shares of the company’s stock valued at $72,414,000 after purchasing an additional 75,688 shares during the period. State Street Corp raised its position in shares of Freshworks by 2.1% during the 2nd quarter. State Street Corp now owns 4,850,487 shares of the company’s stock valued at $72,321,000 after purchasing an additional 101,132 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Freshworks by 8.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,316,920 shares of the company’s stock valued at $39,052,000 after buying an additional 260,078 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Freshworks Stock Down 0.6%

NASDAQ FRSH opened at $12.25 on Friday. The company has a 50-day simple moving average of $12.03 and a two-hundred day simple moving average of $12.83. Freshworks has a 12-month low of $10.51 and a 12-month high of $19.77. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -122.49 and a beta of 0.89.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Thursday, September 11th. The company reported $0.18 EPS for the quarter. The company 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 expect that Freshworks will post -0.19 earnings per share for the current fiscal year.

Freshworks Company Profile

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.