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

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have been given an average rating of "Moderate Buy" by the fourteen brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $18.69.

A number of equities analysts recently commented on FRSH shares. Robert W. Baird reduced their price target on 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 lifted their target price on Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 7th. Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. JMP Securities lifted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Finally, Piper Sandler increased their price objective on shares of Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, Director Zachary Nelson sold 8,442 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the sale, the director now directly owns 23,497 shares in the company, valued at approximately $259,406.88. This represents a 26.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the firm's stock in a transaction 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 owns 551,137 shares in the company, valued at $8,862,282.96. The trade was a 60.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,699,318 shares of company stock worth $26,614,569 in the last quarter. Corporate insiders own 19.15% of the company's stock.

Institutional Trading of Freshworks

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP increased its stake in Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company's stock valued at $4,895,000 after acquiring an additional 189,616 shares during the last quarter. Sei Investments Co. increased its stake in shares of Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company's stock valued at $1,216,000 after purchasing an additional 63,006 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Freshworks during the 3rd quarter worth $1,193,000. Intech Investment Management LLC bought a new stake in shares of Freshworks during the 3rd quarter worth $867,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company's stock valued at $2,699,000 after buying an additional 209,194 shares in the last quarter. Institutional investors own 75.58% of the company's stock.

Freshworks Trading Up 1.7 %

Shares of FRSH traded up $0.26 during midday trading on Monday, reaching $15.59. The stock had a trading volume of 2,697,299 shares, compared to its average volume of 2,996,692. The firm has a market cap of $4.72 billion, a PE ratio of -45.85 and a beta of 0.90. The firm has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $12.93. Freshworks has a one year low of $10.81 and a one year high of $24.25.

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.