Freshworks Inc. (NASDAQ:FRSH) Receives $18.69 Average Price Target from Analysts

Freshworks Inc. (NASDAQ:FRSH) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.69.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research note on Thursday, November 7th. Canaccord Genuity Group upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped their target price on shares of Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th.

Freshworks Stock Performance

Shares of Freshworks stock opened at $15.99 on Thursday. The firm has a market cap of $4.84 billion, a PE ratio of -47.03 and a beta of 0.72. The firm’s 50-day simple moving average is $13.04 and its 200-day simple moving average is $12.61. Freshworks has a 1 year low of $10.81 and a 1 year high of $24.98.

Insider Buying and Selling

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares in the company, valued at approximately $405,780.34. This represents a 11.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the transaction, the director now owns 23,497 shares of the company’s stock, valued at approximately $259,406.88. This trade represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,683 shares of company stock worth $397,518 over the last quarter. 19.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP grew its position in Freshworks by 80.1% in the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after purchasing an additional 189,616 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Freshworks by 191.9% in the second quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after acquiring an additional 63,006 shares in the last quarter. M&G PLC bought a new position in shares of Freshworks in the third quarter valued at approximately $9,094,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock valued at $2,699,000 after acquiring an additional 209,194 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Freshworks in the third quarter valued at approximately $867,000. Institutional investors 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.