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

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $21.14.

A number of analysts have recently commented on the stock. UBS Group set a $22.00 price target on shares of Freshworks in a research note on Thursday, February 6th. Oppenheimer lifted their target price on shares of Freshworks from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut Freshworks from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Morgan Stanley lifted their price objective on Freshworks from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Finally, JMP Securities set a $27.00 target price on Freshworks in a report on Wednesday, February 12th.

Insider Buying and Selling at Freshworks

In related news, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total transaction of $78,510.60. Following the completion of the sale, the director now owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 551,137 shares in the company, valued at approximately $8,862,282.96. This represents a 60.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,739,953 shares of company stock valued at $27,439,720 over the last 90 days. 19.15% of the stock is currently owned by corporate insiders.

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Hedge Funds Weigh In On Freshworks

Institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. purchased a new stake in Freshworks in the 4th quarter worth $5,053,000. JT Stratford LLC increased its holdings in shares of Freshworks by 41.6% in the fourth quarter. JT Stratford LLC now owns 20,133 shares of the company's stock worth $326,000 after purchasing an additional 5,917 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Freshworks in the fourth quarter worth about $370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Freshworks by 19.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,676 shares of the company's stock valued at $5,994,000 after buying an additional 60,652 shares during the last quarter. Finally, Vident Advisory LLC purchased a new position in Freshworks during the 4th quarter valued at approximately $316,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Trading Down 0.9 %

FRSH stock traded down $0.15 during midday trading on Friday, hitting $15.80. The company's stock had a trading volume of 2,999,764 shares, compared to its average volume of 4,028,847. The firm's 50-day moving average is $17.23 and its 200-day moving average is $14.71. Freshworks has a 12 month low of $10.81 and a 12 month high of $19.77. The company has a market cap of $4.76 billion, a PE ratio of -49.38 and a beta of 0.92.

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