Morgan Stanley Boosts Freshworks (NASDAQ:FRSH) Price Target to $19.00

Freshworks (NASDAQ:FRSH - Free Report) had its target price increased by Morgan Stanley from $18.00 to $19.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Freshworks in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of Freshworks from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 7th. Canaccord Genuity Group increased their price target 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 price objective 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and a consensus target price of $19.08.

Freshworks Trading Up 0.1 %

Shares of Freshworks stock traded up $0.01 during trading hours on Monday, reaching $15.60. 2,055,951 shares of the company's stock were exchanged, compared to its average volume of 2,885,991. The company has a 50 day moving average of $15.93 and a two-hundred day moving average of $13.29. The stock has a market cap of $4.72 billion, a P/E ratio of -45.88 and a beta of 0.88. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $23.64.

Insider Transactions at Freshworks

In other Freshworks news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of Freshworks stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $16.08, for a total value of $13,426,800.00. Following the completion of the transaction, the chairman now directly owns 551,137 shares of the company's stock, valued at $8,862,282.96. The trade was a 60.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total value of $133,663.05. Following the sale, the director now directly owns 24,187 shares in the company, valued at approximately $383,363.95. This trade represents a 25.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,697,478 shares of company stock valued at $26,648,447. 19.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank increased its holdings in Freshworks by 29.1% in the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company's stock worth $90,000 after purchasing an additional 1,588 shares in 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 stake in shares of Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company's stock valued at $55,000 after buying an additional 2,645 shares during the period. Blue Trust Inc. raised its holdings in 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Freshworks by 8.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company's stock worth $462,000 after buying an additional 3,182 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.

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.