Brokerages Set Freshworks Inc. (NASDAQ:FRSH) PT at $17.54

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $17.54.

Several research firms have weighed in on FRSH. Wells Fargo & Company started coverage on Freshworks in a research note on Wednesday, October 16th. They set an "equal weight" rating and a $11.00 target price for the company. Canaccord Genuity Group reduced their price objective on Freshworks from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, July 10th. Cantor Fitzgerald lowered their target price on Freshworks from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Freshworks from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective on shares of Freshworks from $17.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th.

Freshworks Price Performance

FRSH traded up $0.35 on Friday, hitting $12.05. 3,554,950 shares of the stock were exchanged, compared to its average volume of 3,058,852. Freshworks has a 12 month low of $10.81 and a 12 month high of $24.98. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -34.43 and a beta of 0.72. The business has a 50-day moving average of $11.41 and a two-hundred day moving average of $12.70.

Insiders Place Their Bets

In related news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jennifer H. Taylor sold 4,690 shares of the company's 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 sale, the director now owns 36,689 shares in the company, valued at $405,780.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the sale, the director now directly owns 23,497 shares of the company's stock, valued at $259,406.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,803 shares of company stock valued at $435,884. 19.15% of the stock is currently owned by company insiders.

Institutional Trading of Freshworks

Several large investors have recently modified their holdings of FRSH. Advisors Asset Management Inc. grew its holdings in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock worth $54,000 after purchasing an additional 757 shares during the period. California State Teachers Retirement System increased its position in Freshworks by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company's stock valued at $2,945,000 after buying an additional 831 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Freshworks by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company's stock worth $250,000 after buying an additional 1,160 shares during the period. Amalgamated Bank boosted its holdings in Freshworks by 29.1% in the second quarter. Amalgamated Bank now owns 7,054 shares of the company's stock worth $90,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Covestor Ltd grew its stake in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after acquiring an additional 1,704 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.