Freshworks Inc. (NASDAQ:FRSH) Receives $18.69 Consensus Price Target from Brokerages

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) has received a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.69.

FRSH has been the topic of a number of research analyst reports. JMP Securities raised their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Robert W. Baird lowered their target price on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Piper Sandler raised their price target on shares of Freshworks from $13.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald decreased their price target on shares of Freshworks from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st.

Insider Activity

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

Institutional Trading of Freshworks

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its holdings in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock valued at $54,000 after purchasing an additional 757 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Freshworks by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company's stock valued at $2,945,000 after purchasing an additional 831 shares during the last quarter. Moody National Bank Trust Division bought a new position in Freshworks during the 2nd quarter valued at about $144,000. CWM LLC lifted its holdings in Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company's stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Finally, Renaissance Capital LLC lifted its holdings in Freshworks by 72.0% during the 2nd quarter. Renaissance Capital LLC now owns 181,789 shares of the company's stock valued at $2,307,000 after purchasing an additional 76,092 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Price Performance

NASDAQ:FRSH traded down $0.49 during midday trading on Thursday, reaching $15.83. The stock had a trading volume of 3,996,203 shares, compared to its average volume of 2,918,950. Freshworks has a 1-year low of $10.81 and a 1-year high of $24.98. The firm's fifty day simple moving average is $12.86 and its 200-day simple moving average is $12.58. The stock has a market capitalization of $4.79 billion, a P/E ratio of -46.56 and a beta of 0.72.

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.