Freshworks (NASDAQ:FRSH) Price Target Raised to $18.00 at Piper Sandler

Freshworks (NASDAQ:FRSH - Free Report) had its target price hoisted by Piper Sandler from $13.00 to $18.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company started coverage on shares of Freshworks in a report on Wednesday, October 16th. They set an "equal weight" rating and a $11.00 price target for the company. Barclays reduced their price objective on Freshworks from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group decreased their price target on shares of Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald cut their price target on shares of Freshworks from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Freshworks in a report on Thursday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and an average target price of $18.69.

Freshworks Stock Up 27.9 %

NASDAQ:FRSH traded up $3.65 during trading hours on Thursday, reaching $16.74. 12,816,298 shares of the stock were exchanged, compared to its average volume of 2,734,445. The stock has a market capitalization of $5.06 billion, a P/E ratio of -47.54 and a beta of 0.72. The firm has a 50 day simple moving average of $11.45 and a 200-day simple moving average of $12.60. Freshworks has a 52 week low of $10.81 and a 52 week high of $24.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The firm had revenue of $186.58 million for the quarter, compared to analysts' expectations of $181.50 million. As a group, analysts expect that Freshworks will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the completion of the sale, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $11.22, for a total value of $70,719.66. Following the completion of the transaction, the director now owns 223,106 shares of the company's stock, valued at approximately $2,503,249.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total transaction of $97,316.82. Following the sale, the director now owns 22,530 shares in the company, valued at approximately $259,996.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,456 shares of company stock worth $530,102. Corporate insiders own 19.15% of the company's stock.

Institutional Trading of Freshworks

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position in Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after purchasing an additional 2,822 shares during the period. Advisors Asset Management Inc. increased its position in Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock valued at $54,000 after acquiring an additional 757 shares during the last quarter. CWM LLC grew its holdings in Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company's stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Covestor Ltd grew its position in Freshworks by 89.9% in the 3rd 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 last quarter. Finally, Quarry LP increased its holdings in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company's stock worth $55,000 after purchasing an additional 2,645 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.

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.