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

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.07.

A number of research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Freshworks from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $16.00 to $13.00 in a research note on Tuesday, January 21st. Cantor Fitzgerald boosted their target price on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of Freshworks from $20.00 to $24.00 and gave the company an "overweight" rating in a research note on Wednesday. Robert W. Baird reduced their price target on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Oppenheimer upped their price target on shares of Freshworks from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday.

Insider Activity

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the transaction, the director now owns 24,187 shares in the company, valued at approximately $383,363.95. This represents a 25.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $16.08, for a total transaction of $13,426,800.00. Following the completion of the transaction, the chairman now owns 551,137 shares in the company, valued at approximately $8,862,282.96. This represents a 60.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,727,211 shares of company stock worth $27,224,746 over the last 90 days. 19.15% of the stock is owned by company insiders.

Institutional Trading of Freshworks

Large investors have recently added to or reduced their stakes in the business. Avion Wealth bought a new stake in shares of Freshworks during the 4th quarter worth $26,000. Blue Trust Inc. boosted its holdings in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after purchasing an additional 2,822 shares during the period. Covestor Ltd boosted its holdings in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after purchasing an additional 1,704 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Freshworks in the 3rd quarter valued at $57,000. Finally, National Bank of Canada FI raised its stake in shares of Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after buying an additional 3,700 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Freshworks Price Performance

Shares of NASDAQ:FRSH traded down $0.38 during trading on Tuesday, reaching $17.05. 3,844,448 shares of the company's stock traded hands, compared to its average volume of 4,256,467. Freshworks has a 12 month low of $10.81 and a 12 month high of $21.61. The company has a 50 day moving average of $17.00 and a 200-day moving average of $14.13. The stock has a market capitalization of $5.16 billion, a P/E ratio of -50.15 and a beta of 0.91.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. Equities research analysts predict that Freshworks will post -0.35 earnings per share for the current fiscal year.

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.