Needham & Company LLC Issues Positive Forecast for Freshworks (NASDAQ:FRSH) Stock Price

Freshworks (NASDAQ:FRSH) had its price target boosted by Needham & Company LLC from $20.00 to $25.00 in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

FRSH has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer lifted their price target on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler lifted their price target on Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Barclays lifted their price target on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $16.00 to $13.00 in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $21.07.

Freshworks Stock Down 0.3 %

FRSH stock opened at $17.80 on Wednesday. The business’s 50-day moving average is $16.97 and its two-hundred day moving average is $14.08. Freshworks has a 1 year low of $10.81 and a 1 year high of $21.61.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 8.57% and a negative net margin of 14.80%. On average, equities research analysts predict that Freshworks will post -0.35 EPS for the current fiscal year.

Insider Transactions at Freshworks

In related news, Director Barry L. Padgett sold 2,345 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the transaction, the director now owns 26,957 shares in the company, valued at approximately $466,356.10. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total value of $78,510.60. Following the completion of the transaction, the director now owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,727,211 shares of company stock valued at $27,224,746 over the last quarter. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Freshworks during the third quarter valued at approximately $260,000. Sapient Capital LLC raised its position in shares of Freshworks by 42.9% during the 3rd quarter. Sapient Capital LLC now owns 14,326 shares of the company’s stock worth $164,000 after purchasing an additional 4,303 shares during the period. Creative Planning acquired a new stake in shares of Freshworks during the 3rd quarter worth approximately $482,000. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after purchasing an additional 2,822 shares during the period. Finally, Tempus Wealth Planning LLC acquired a new stake in shares of Freshworks during the 3rd quarter worth approximately $130,000. 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.