Freshworks Inc. (NASDAQ:FRSH) Given Consensus Rating of "Moderate Buy" by Analysts

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.29.

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Freshworks from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 7th. Robert W. Baird decreased their target price on Freshworks from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Piper Sandler increased their price target on Freshworks from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

Freshworks Price Performance

Shares of FRSH traded down $0.02 during mid-day trading on Friday, hitting $17.44. The company's stock had a trading volume of 3,355,055 shares, compared to its average volume of 2,996,963. The firm has a 50-day moving average price of $16.16 and a 200 day moving average price of $13.38. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $23.30. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of -51.29 and a beta of 0.88.

Insider Buying and Selling at Freshworks

In other Freshworks news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $16.08, for a total value of $13,426,800.00. Following the transaction, the chairman now directly owns 551,137 shares of the company's stock, valued at $8,862,282.96. This represents a 60.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the completion of the sale, the director now directly owns 23,497 shares of the company's stock, valued at approximately $286,428.43. The trade was a 26.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,702,163 shares of company stock valued at $26,721,018 in the last quarter. Company insiders own 19.15% of the company's stock.

Institutional Trading of Freshworks

A number of institutional investors have recently added to or reduced their stakes in FRSH. Victory Capital Management Inc. raised its holdings in shares of Freshworks by 165.0% during the 2nd quarter. Victory Capital Management Inc. now owns 59,952 shares of the company's stock valued at $761,000 after purchasing an additional 37,330 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Freshworks by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,428,755 shares of the company's stock valued at $30,821,000 after buying an additional 239,671 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Freshworks by 7.6% during the second quarter. Renaissance Technologies LLC now owns 3,134,600 shares of the company's stock valued at $39,778,000 after buying an additional 221,900 shares in the last quarter. Amalgamated Bank lifted its position in shares of Freshworks by 29.1% in the second quarter. Amalgamated Bank now owns 7,054 shares of the company's stock worth $90,000 after buying an additional 1,588 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Freshworks by 1.3% during the 2nd quarter. Ieq Capital LLC now owns 760,778 shares of the company's stock worth $9,654,000 after acquiring an additional 10,000 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.