Oppenheimer Cuts Freshworks (NASDAQ:FRSH) Price Target to $19.00

Freshworks (NASDAQ:FRSH - Free Report) had its target price cut by Oppenheimer from $24.00 to $19.00 in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Jefferies Financial Group cut their price objective on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of Freshworks in a report on Monday, March 17th. JMP Securities set a $27.00 price target on Freshworks in a report on Wednesday, February 12th. Finally, UBS Group set a $22.00 price objective on shares of Freshworks in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Freshworks presently has an average rating of "Moderate Buy" and an average target price of $20.79.

Freshworks Trading Up 0.6 %

Shares of NASDAQ:FRSH traded up $0.07 during trading on Wednesday, hitting $12.60. 1,101,991 shares of the company's stock were exchanged, compared to its average volume of 3,305,084. The firm has a market cap of $3.80 billion, a P/E ratio of -39.38 and a beta of 0.98. The firm has a 50-day moving average price of $15.65 and a two-hundred day moving average price of $15.23. Freshworks has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results 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 13.24% and a negative return on equity of 6.63%. As a group, research analysts predict that Freshworks will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.30, for a total value of $154,488.60. Following the completion of the sale, the director now owns 24,187 shares of the company's stock, valued at approximately $442,622.10. The trade was a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.29, for a total transaction of $52,291.11. Following the transaction, the insider now directly owns 397,390 shares in the company, valued at approximately $7,268,263.10. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,577 shares of company stock valued at $883,242 over the last ninety days. 19.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

A number of large investors have recently added to or reduced their stakes in FRSH. Avion Wealth bought a new stake in shares of Freshworks during the 4th quarter valued at $26,000. Blue Trust Inc. grew its stake in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after buying an additional 954 shares in the last quarter. National Bank of Canada FI grew its stake in Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after buying an additional 3,700 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after acquiring an additional 1,087 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.

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.