Jefferies Financial Group Lowers Freshworks (NASDAQ:FRSH) Price Target to $20.00

Freshworks (NASDAQ:FRSH) had its price target cut by Jefferies Financial Group from $22.00 to $20.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently commented on FRSH. Morgan Stanley lifted their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Wells Fargo & Company lowered Freshworks from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. JMP Securities set a $27.00 target price on Freshworks in a report on Wednesday, February 12th. Barclays boosted their price target on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Oppenheimer increased their price objective on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and an average price target of $21.14.

Freshworks Trading Down 2.9 %

Freshworks stock opened at $14.11 on Monday. Freshworks has a 12 month low of $10.81 and a 12 month high of $19.77. The stock has a fifty day simple moving average of $16.85 and a two-hundred day simple moving average of $15.13. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -44.09 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, equities research analysts forecast that Freshworks will post -0.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Johanna Flower sold 1,450 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the transaction, the director now directly owns 41,491 shares of the company’s stock, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total value of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,200 shares of company stock valued at $1,073,021. 19.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshworks

Several institutional investors have recently made changes to their positions in FRSH. Avion Wealth purchased a new stake in Freshworks in the fourth quarter worth about $26,000. Point72 Hong Kong Ltd bought a new position in shares of Freshworks during the third quarter valued at approximately $57,000. Blue Trust Inc. increased its holdings in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares during the period. National Bank of Canada FI raised its stake in Freshworks by 1,385.8% in the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after buying an additional 3,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after buying an additional 2,223 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

About Freshworks

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.