Piper Sandler Issues Positive Forecast for Freshworks (NASDAQ:FRSH) Stock Price

Freshworks (NASDAQ:FRSH - Free Report) had its price target boosted by Piper Sandler from $18.00 to $20.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. JMP Securities lifted their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Thursday, November 7th. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. Robert W. Baird dropped their price objective on Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Freshworks presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.85.

Freshworks Stock Performance

Shares of NASDAQ FRSH traded up $0.26 during mid-day trading on Monday, reaching $16.33. 4,116,837 shares of the company's stock were exchanged, compared to its average volume of 3,282,679. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -48.03 and a beta of 0.90. Freshworks has a 52-week low of $10.81 and a 52-week high of $23.93. The company's 50-day moving average is $15.60 and its 200-day moving average is $13.18.

Insider Buying and Selling

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the sale, the director now directly owns 36,689 shares of the company's stock, valued at $405,780.34. The trade was a 11.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total value of $45,286.56. Following the completion of the transaction, the insider now owns 400,249 shares in the company, valued at approximately $6,339,944.16. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,702,168 shares of company stock worth $26,700,318 over the last 90 days. 19.15% of the stock is owned by insiders.

Institutional Trading of Freshworks

Several institutional investors have recently modified their holdings of FRSH. Blue Trust Inc. grew its position in shares of 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 buying an additional 2,822 shares during the last quarter. Covestor Ltd grew its holdings 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 purchasing an additional 1,704 shares during the last quarter. Quarry LP increased its position in shares of Freshworks by 157.6% during the second 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. Point72 Hong Kong Ltd acquired a new stake in shares of Freshworks during the third quarter worth about $57,000. Finally, Amalgamated Bank lifted its holdings in shares of Freshworks by 29.1% in the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company's stock valued at $90,000 after purchasing an additional 1,588 shares during the last quarter. Hedge funds and other institutional investors 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.