Analysts Set Freshworks Inc. (NASDAQ:FRSH) Price Target at $21.14

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.14.

Several equities analysts have commented on FRSH shares. Oppenheimer raised their target price on shares of Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Cantor Fitzgerald lifted their price target on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th.

Insider Buying and Selling at Freshworks

In related news, Director Jennifer H. Taylor sold 4,685 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $15.49, for a total transaction of $72,570.65. Following the completion of the transaction, the director now directly owns 37,286 shares of the company's stock, valued at $577,560.14. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Johanna Flower sold 21,400 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of the sale, the director now owns 41,491 shares in the company, valued at $746,838. This trade represents a 34.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,262 shares of company stock worth $955,812. 19.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FRSH. Avion Wealth acquired a new stake in shares of Freshworks during the fourth quarter worth $26,000. Point72 Hong Kong Ltd acquired a new stake in Freshworks during the 3rd quarter worth about $57,000. Blue Trust Inc. raised its position in shares of Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after acquiring an additional 954 shares in the last quarter. National Bank of Canada FI lifted 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 purchasing an additional 3,700 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after purchasing an additional 2,223 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Freshworks Stock Performance

Shares of NASDAQ FRSH traded down $0.81 during midday trading on Wednesday, reaching $12.29. The company's stock had a trading volume of 6,114,732 shares, compared to its average volume of 3,270,273. The company has a market cap of $3.71 billion, a P/E ratio of -38.41 and a beta of 0.98. The business's 50 day moving average price is $16.51 and its two-hundred day moving average price is $15.19. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

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 the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Sell-side analysts forecast that Freshworks will post -0.19 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.