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

by · The Markets Daily

Shares of Freshworks Inc. (NASDAQ:FRSH – Get Free Report) have earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.69.

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Scotiabank cut their price target on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Canaccord Genuity Group cut their price target on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Barclays dropped their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st.

View Our Latest Stock Analysis on Freshworks

Insider Transactions at Freshworks

In related news, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 35,853 shares in the company, valued at $400,478.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $11.60, for a total value of $97,927.20. Following the transaction, the director now owns 22,530 shares in the company, valued at $261,348. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the sale, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. The disclosure for this sale can be found here. Insiders sold a total of 44,344 shares of company stock valued at $517,094 over the last three months. 19.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freshworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Freshworks by 6.8% during the 1st 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. Clearbridge Investments LLC increased its stake 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 acquiring an additional 2,097,280 shares during the period. Capital International Investors bought a new position in Freshworks during the first quarter valued at about $59,311,000. Franklin Resources Inc. increased its stake in Freshworks by 6.5% during the fourth quarter. Franklin Resources Inc. now owns 3,175,334 shares of the company’s stock valued at $74,589,000 after acquiring an additional 193,708 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Freshworks by 7.6% during the second quarter. Renaissance Technologies LLC now owns 3,134,600 shares of the company’s stock valued at $39,778,000 after acquiring an additional 221,900 shares during the period. 75.58% of the stock is owned by institutional investors.

Freshworks Stock Performance

NASDAQ FRSH opened at $11.16 on Friday. The company has a market capitalization of $3.33 billion, a PE ratio of -27.90 and a beta of 0.73. Freshworks has a 52-week low of $10.96 and a 52-week high of $24.98. The company has a 50-day simple moving average of $11.99 and a 200 day simple moving average of $14.25.

Freshworks (NASDAQ:FRSH – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The company had revenue of $174.13 million during the quarter, compared to analyst estimates of $169.05 million. During the same period last year, the business earned ($0.12) earnings per share. Freshworks’s revenue was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Freshworks will post -0.38 EPS for the current fiscal year.

About Freshworks

(Get Free Report

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.

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