Freshworks (NASDAQ:FRSH) Price Target Cut to $15.00 by Analysts at Robert W. Baird

Freshworks (NASDAQ:FRSH - Get Free Report) had its target price decreased by equities researchers at Robert W. Baird from $16.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price points to a potential downside of 10.82% from the company's current price.

Several other research firms have also commented on FRSH. Wells Fargo & Company lifted their price objective on shares of Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday. JPMorgan Chase & Co. cut their price target on shares of Freshworks from $19.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald decreased their price objective on shares of Freshworks from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Piper Sandler boosted their target price on Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Jefferies Financial Group reduced their price target on Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.69.

Freshworks Price Performance

Shares of NASDAQ FRSH traded up $3.73 during mid-day trading on Thursday, hitting $16.82. 16,528,799 shares of the company's stock traded hands, compared to its average volume of 2,746,653. The company has a market capitalization of $5.08 billion, a P/E ratio of -49.47 and a beta of 0.72. Freshworks has a 1 year low of $10.81 and a 1 year high of $24.98. The company's 50-day moving average is $11.55 and its two-hundred day moving average is $12.63.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The business had revenue of $186.58 million for the quarter, compared to the consensus estimate of $181.50 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. Equities analysts anticipate that Freshworks will post -0.38 EPS for the current fiscal year.

Insider Activity at Freshworks

In other news, Director Zachary Nelson sold 8,442 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the sale, the director now owns 23,497 shares of the company's stock, valued at approximately $259,406.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now owns 23,497 shares of the company's stock, valued at $259,406.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 value of $52,331.45. Following the completion of the transaction, the director now owns 35,853 shares in the company, valued at $400,478.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,456 shares of company stock worth $530,102 over the last three months. 19.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after buying an additional 2,822 shares during the last quarter. Covestor Ltd grew its stake in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company's stock worth $41,000 after acquiring an additional 1,704 shares during the last quarter. CWM LLC increased its holdings in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company's stock valued at $43,000 after acquiring an additional 2,878 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Freshworks by 34.2% in 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. Finally, Quarry LP boosted its stake in Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company's stock worth $55,000 after purchasing an additional 2,645 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

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.