Freshworks (NASDAQ:FRSH - Free Report) had its price target upped by Cantor Fitzgerald from $18.00 to $22.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.
A number of other equities research analysts have also issued reports on FRSH. Robert W. Baird dropped their price target on Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Oppenheimer upped their price target on Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered Freshworks from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. Finally, Needham & Company LLC upped their price target on Freshworks from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Freshworks presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.07.
Get Our Latest Analysis on Freshworks
Freshworks Trading Down 2.2 %
NASDAQ:FRSH traded down $0.38 during trading hours on Wednesday, hitting $17.05. 3,844,448 shares of the stock were exchanged, compared to its average volume of 3,932,087. Freshworks has a 52-week low of $10.81 and a 52-week high of $21.61. The firm's fifty day moving average price is $17.00 and its 200 day moving average price is $14.13. The company has a market cap of $5.16 billion, a P/E ratio of -50.15 and a beta of 0.91.
Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 8.57% and a negative net margin of 14.80%. Equities analysts expect that Freshworks will post -0.35 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.29, for a total transaction of $52,291.11. Following the transaction, the insider now owns 397,390 shares of the company's stock, valued at $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the transaction, the director now directly owns 24,187 shares in the company, valued at approximately $442,622.10. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,727,211 shares of company stock worth $27,224,746 over the last ninety days. Corporate insiders own 19.15% of the company's stock.
Hedge Funds Weigh In On Freshworks
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new stake in Freshworks in the fourth quarter valued at about $61,530,000. Norges Bank acquired a new stake in Freshworks in the fourth quarter valued at about $57,527,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Freshworks in the fourth quarter valued at about $49,946,000. JPMorgan Chase & Co. lifted its position in Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock valued at $60,503,000 after purchasing an additional 1,752,995 shares during the period. Finally, Topline Capital Management LLC acquired a new stake in Freshworks in the fourth quarter valued at about $27,166,000. Hedge funds and other institutional investors own 75.58% of the company's stock.
Freshworks Company Profile
(
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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.
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