Freshworks (NASDAQ:FRSH) Price Target Raised to $20.00

Freshworks (NASDAQ:FRSH) had its price objective boosted by JPMorgan Chase & Co. from $17.00 to $20.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on FRSH. 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 report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research report on Thursday. Robert W. Baird lowered their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. Scotiabank reduced their price objective on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, July 31st. Finally, Barclays decreased their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.69.

Freshworks Stock Down 2.3 %

NASDAQ FRSH traded down $0.38 during trading on Thursday, hitting $16.44. The company’s stock had a trading volume of 10,459,693 shares, compared to its average volume of 3,578,957. Freshworks has a 52 week low of $10.81 and a 52 week high of $24.98. The firm has a market cap of $4.97 billion, a P/E ratio of -48.35 and a beta of 0.72. The firm has a 50 day moving average price of $11.64 and a 200 day moving average price of $12.57.

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the transaction, the director now owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the sale, the director now directly owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.23, for a total value of $52,668.70. Following the transaction, the director now directly owns 35,853 shares in the company, valued at $402,629.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,153 shares of company stock worth $459,383 in the last three months. Insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

A number of institutional investors have recently bought and sold shares of FRSH. Capital International Investors bought a new position in shares of Freshworks in the 1st quarter worth $59,311,000. Clearbridge Investments LLC grew its holdings in Freshworks by 107.4% during the first quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock valued at $73,764,000 after purchasing an additional 2,097,280 shares during the period. Vanguard Group Inc. increased its stake in Freshworks by 6.8% in the first quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after purchasing an additional 1,354,530 shares in the last quarter. M&G PLC acquired a new stake in Freshworks in the third quarter worth $9,094,000. Finally, Stanley Laman Group Ltd. bought a new position in shares of Freshworks during the second quarter worth $9,133,000. 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.