Freshworks Inc. (NASDAQ:FRSH) Given Average Recommendation of “Hold” by Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $21.14.

FRSH has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of Freshworks in a report on Monday, March 17th. Wells Fargo & Company cut Freshworks from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $16.00 to $13.00 in a research note on Tuesday, January 21st. StockNews.com raised Freshworks from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Robert W. Baird set a $18.00 target price on Freshworks in a research report on Wednesday, February 12th. Finally, Scotiabank increased their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th.

Freshworks Stock Performance

Shares of Freshworks stock opened at $14.33 on Wednesday. The stock has a 50 day moving average of $16.79 and a 200 day moving average of $15.15. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

Freshworks (NASDAQ:FRSH) last posted 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 net margin of 13.24% and a negative return on equity of 6.63%. Analysts forecast that Freshworks will post -0.19 EPS for the current year.

Insider Transactions at Freshworks

In other news, Director Johanna Flower sold 21,400 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of the sale, the director now owns 41,491 shares in the company, valued at approximately $746,838. This trade represents a 34.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on 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 owns 37,286 shares in the company, valued at approximately $577,560.14. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,980 shares of company stock valued at $1,084,011. Insiders own 19.15% of the company’s stock.

Hedge Funds Weigh In On Freshworks

Institutional investors and hedge funds have recently modified their holdings of the company. Smith Group Asset Management LLC acquired a new stake in Freshworks in the fourth quarter valued at approximately $589,000. Barclays PLC lifted its holdings in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Freshworks during the third quarter valued at $1,193,000. Raymond James Financial Inc. bought a new position in Freshworks in the 4th quarter worth about $20,666,000. Finally, Geode Capital Management LLC grew its holdings in Freshworks by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock worth $52,750,000 after buying an additional 66,342 shares in the last quarter. Hedge funds and other 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.