Freshworks Inc. (NASDAQ:FRSH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given an average rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.69.

Several equities analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird cut their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price target on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Thursday, November 7th.

Insider Transactions at Freshworks

In related news, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total value of $52,331.45. Following the transaction, the director now directly owns 35,853 shares in the company, valued at approximately $400,478.01. This represents a 11.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now owns 23,497 shares in the company, valued at $259,406.88. This represents a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,250 shares of company stock worth $300,201 in the last ninety days. Insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRSH. Blue Trust Inc. increased its position in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares during the period. Covestor Ltd increased its position 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 acquiring an additional 1,704 shares during the period. CWM LLC increased its position in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares during the period. Advisors Asset Management Inc. increased its position in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the period. Finally, 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 acquiring an additional 2,645 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

NASDAQ FRSH opened at $16.35 on Thursday. The stock has a 50-day simple moving average of $13.34 and a two-hundred day simple moving average of $12.65. The firm has a market capitalization of $4.95 billion, a P/E ratio of -48.09 and a beta of 0.90. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $24.98.

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.