Freshworks Inc. (NASDAQ:FRSH) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Freshworks Inc. (NASDAQ:FRSH – Get Free Report) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.69.

FRSH has been the subject of several research analyst reports. Piper Sandler lowered their target price on Freshworks from $22.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays cut their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Scotiabank dropped their price target on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 31st. Finally, Canaccord Genuity Group reduced their price objective on Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th.

Read Our Latest Stock Report on Freshworks

Freshworks Stock Down 2.1 %

Shares of Freshworks stock opened at $11.33 on Friday. Freshworks has a 12-month low of $10.96 and a 12-month high of $24.98. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -28.33 and a beta of 0.73. The firm’s 50-day moving average price is $11.94 and its two-hundred day moving average price is $14.17.

Freshworks (NASDAQ:FRSH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The business had revenue of $174.13 million for the quarter, compared to analysts’ expectations of $169.05 million. During the same period last year, the firm posted ($0.12) earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts expect that Freshworks will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the sale, the director now directly owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $11.60, for a total value of $97,927.20. Following the completion of the sale, the director now directly owns 22,530 shares in the company, valued at $261,348. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the transaction, the director now directly owns 35,853 shares in the company, valued at $400,478.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,344 shares of company stock valued at $517,094. 19.15% of the stock is currently owned by company insiders.

Institutional Trading of Freshworks

Several hedge funds have recently modified their holdings of FRSH. International Assets Investment Management LLC acquired a new stake in Freshworks in the fourth quarter worth $483,000. Victory Capital Management Inc. increased its position in Freshworks by 31.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,308 shares of the company’s stock valued at $501,000 after buying an additional 5,093 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Freshworks by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,304,325 shares of the company’s stock worth $30,639,000 after buying an additional 67,254 shares during the period. Teacher Retirement System of Texas boosted its holdings in Freshworks by 13.9% in the fourth quarter. Teacher Retirement System of Texas now owns 28,714 shares of the company’s stock worth $674,000 after acquiring an additional 3,503 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Freshworks by 16.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,731,120 shares of the company’s stock valued at $40,667,000 after acquiring an additional 245,242 shares during the period. Institutional investors own 75.58% of the company’s stock.

About Freshworks

(Get Free Report

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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