Analysts Set Freshworks Inc. (NASDAQ:FRSH) PT at $18.69

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.69.

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of Freshworks in a report on Thursday, November 7th. Barclays reduced their target price on shares of Freshworks from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Wednesday, July 31st. Robert W. Baird reduced their target price on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th.

Freshworks Price Performance

Shares of Freshworks stock traded down $0.49 on Thursday, hitting $15.83. The company had a trading volume of 3,996,203 shares, compared to its average volume of 2,918,950. The business has a 50-day simple moving average of $12.86 and a 200-day simple moving average of $12.58. The company has a market cap of $4.79 billion, a PE ratio of -46.56 and a beta of 0.72. Freshworks has a 52 week low of $10.81 and a 52 week high of $24.98.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the sale, the director now owns 35,853 shares in the company, valued at $400,478.01. This represents a 11.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the completion of the sale, the director now owns 22,530 shares of the company's stock, valued at approximately $259,996.20. The trade was a 27.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,463 shares of company stock worth $406,714. 19.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. M&G PLC bought a new position in shares of Freshworks during the 3rd quarter valued at $9,094,000. Stanley Laman Group Ltd. bought a new position in shares of Freshworks during the 2nd quarter valued at $9,133,000. Lake Street Advisors Group LLC bought a new position in shares of Freshworks during the 2nd quarter valued at $8,717,000. Franklin Resources Inc. raised its holdings in shares of Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Freshworks during the 3rd quarter valued at $5,260,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

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.