Freshworks (NASDAQ:FRSH) Given New $20.00 Price Target at Jefferies Financial Group

Freshworks (NASDAQ:FRSH - Free Report) had its target price cut by Jefferies Financial Group from $22.00 to $20.00 in a research report report published on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the stock. StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Piper Sandler increased their target price on shares of Freshworks from $20.00 to $24.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. JMP Securities set a $27.00 price target on Freshworks in a research report on Wednesday, February 12th. Canaccord Genuity Group increased 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, Cantor Fitzgerald boosted their target price on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.14.

Freshworks Price Performance

Shares of Freshworks stock traded down $1.21 during trading hours on Monday, hitting $11.90. The company had a trading volume of 2,371,466 shares, compared to its average volume of 3,251,713. The company's 50-day moving average is $16.63 and its two-hundred day moving average is $15.13. The company has a market cap of $3.59 billion, a P/E ratio of -37.09 and a beta of 0.92. Freshworks has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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 expect that Freshworks will post -0.19 EPS for the current year.

Insider Activity

In related news, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the sale, the insider now directly owns 397,390 shares in the company, valued at $7,268,263.10. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,262 shares of company stock worth $955,812. Company insiders own 19.15% of the company's stock.

Hedge Funds Weigh In On Freshworks

A number of institutional investors have recently made changes to their positions in FRSH. Blue Trust Inc. increased its position in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after purchasing an additional 954 shares in the last quarter. Versor Investments LP grew its holdings in shares of Freshworks by 3.0% during the fourth quarter. Versor Investments LP now owns 34,400 shares of the company's stock worth $556,000 after buying an additional 1,000 shares in the last quarter. Covestor Ltd grew its holdings in shares of Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after buying an additional 1,087 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Freshworks by 2.2% during the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock valued at $836,000 after buying an additional 1,103 shares during the period. Finally, Xponance Inc. boosted its position in Freshworks by 10.2% during the fourth quarter. Xponance Inc. now owns 14,847 shares of the company's stock worth $240,000 after acquiring an additional 1,369 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

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.