Freshworks Inc. (NASDAQ:FRSH) Receives $21.14 Consensus Price Target from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.14.

Several research analysts recently weighed in on the company. Barclays increased their price objective on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Piper Sandler increased their price target on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. UBS Group set a $22.00 price objective on shares of Freshworks in a report on Thursday, February 6th. Wells Fargo & Company lowered shares of Freshworks from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $16.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Robert W. Baird set a $18.00 price target on shares of Freshworks in a research note on Wednesday, February 12th.

Insiders Place Their Bets

In related news, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total value of $50,750.80. Following the completion of the transaction, the insider now directly owns 611,604 shares in the company, valued at approximately $8,684,776.80. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the sale, the director now directly owns 37,286 shares in the company, valued at $577,560.14. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,262 shares of company stock worth $955,812 over the last 90 days. Corporate insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares during the last quarter. Versor Investments LP raised its stake in Freshworks by 3.0% in the fourth quarter. Versor Investments LP now owns 34,400 shares of the company’s stock valued at $556,000 after buying an additional 1,000 shares in the last quarter. Covestor Ltd lifted its holdings in Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company’s stock worth $76,000 after buying an additional 1,087 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Freshworks by 2.2% during the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock worth $836,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Freshworks by 10.2% during the 4th quarter. Xponance Inc. now owns 14,847 shares of the company’s stock worth $240,000 after acquiring an additional 1,369 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Stock Down 6.2 %

Shares of FRSH opened at $12.29 on Wednesday. Freshworks has a 52-week low of $10.81 and a 52-week high of $19.77. The stock has a fifty day simple moving average of $16.51 and a two-hundred day simple moving average of $15.19. The company has a market capitalization of $3.71 billion, a PE ratio of -38.41 and a beta of 0.98.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. As a group, equities analysts anticipate that Freshworks will post -0.19 earnings per share for the current fiscal year.

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.