Freshworks (NASDAQ:FRSH) Upgraded at Oppenheimer

Oppenheimer upgraded shares of Freshworks (NASDAQ:FRSHFree Report) from a market perform rating to an outperform rating in a research report sent to investors on Thursday, Marketbeat.com reports. Oppenheimer currently has $22.00 price target on the stock.

A number of other research analysts have also commented on the company. Canaccord Genuity Group increased their price objective on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on Freshworks from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research report on Wednesday. Finally, Robert W. Baird cut their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.29.

Check Out Our Latest Research Report on Freshworks

Freshworks Trading Down 0.1 %

FRSH opened at $17.44 on Thursday. Freshworks has a 1-year low of $10.81 and a 1-year high of $23.30. The stock has a market capitalization of $5.28 billion, a PE ratio of -51.29 and a beta of 0.88. The firm has a 50-day moving average price of $16.18 and a two-hundred day moving average price of $13.42.

Insiders Place Their Bets

In other news, insider Mika Yamamoto sold 5,718 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total transaction of $96,920.10. Following the transaction, the insider now directly owns 403,108 shares of the company’s stock, valued at approximately $6,832,680.60. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the sale, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. This trade represents a 26.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,702,163 shares of company stock valued at $26,721,018 over the last 90 days. 19.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freshworks

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank raised its position in shares of Freshworks by 29.1% in the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after buying an additional 1,588 shares in the last quarter. Covestor Ltd lifted its stake in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares in the last quarter. Quarry LP increased its stake in shares of Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after purchasing an additional 2,645 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings 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 buying an additional 2,822 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Freshworks Company Profile

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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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Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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