Freshworks Inc. (NASDAQ:FRSH) Given Average Rating of "Hold" by Brokerages

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.64.

A number of equities research analysts have recently weighed in on the company. Scotiabank lowered their price target on Freshworks from $19.00 to $14.00 and set a "sector perform" rating for the company in a report on Thursday. UBS Group set a $22.00 price target on Freshworks in a report on Thursday, February 6th. Robert W. Baird set a $18.00 price target on Freshworks in a research note on Wednesday, February 12th. Cantor Fitzgerald upped their price objective on shares of Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Piper Sandler cut their price objective on Freshworks from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday.

Insider Transactions at Freshworks

In other Freshworks news, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the transaction, the director now directly owns 41,491 shares of the company's stock, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the transaction, the insider now directly owns 397,390 shares of the company's stock, valued at $7,268,263.10. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,177 shares of company stock worth $498,042. 19.15% of the stock is currently owned by company insiders.

Institutional Trading of Freshworks

Large investors have recently made changes to their positions in the business. Smith Group Asset Management LLC bought a new position in shares of Freshworks in the fourth quarter worth about $589,000. Barclays PLC lifted its stake in shares of Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company's stock valued at $3,875,000 after acquiring an additional 84,568 shares during the period. Raymond James Financial Inc. bought a new position in Freshworks in the fourth quarter valued at about $20,666,000. Lisanti Capital Growth LLC bought a new stake in Freshworks during the 4th quarter worth about $2,290,000. Finally, Ceera Investments LLC lifted its position in Freshworks by 1,261.7% during the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock valued at $7,364,000 after purchasing an additional 421,975 shares during the period. Institutional investors own 75.58% of the company's stock.

Freshworks Stock Up 3.2 %

Shares of NASDAQ FRSH opened at $14.07 on Friday. The firm has a fifty day moving average of $14.65 and a 200-day moving average of $15.32. Freshworks has a 52-week low of $10.81 and a 52-week high of $19.77. The stock has a market capitalization of $4.24 billion, a PE ratio of -43.97 and a beta of 0.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Equities research analysts expect that Freshworks will post -0.19 EPS for the current fiscal year.

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.

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