Freshworks (NASDAQ:FRSH) Given New $25.00 Price Target at Needham & Company LLC

Freshworks (NASDAQ:FRSH) had its target price hoisted by stock analysts at Needham & Company LLC from $20.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 39.98% from the company’s current price.

FRSH has been the topic of a number of other reports. Canaccord Genuity Group boosted their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Morgan Stanley upped their price target on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird cut their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.29.

Freshworks Stock Down 2.4 %

Freshworks stock opened at $17.86 on Wednesday. The company’s 50-day moving average price is $16.94 and its 200-day moving average price is $14.05. Freshworks has a twelve month low of $10.81 and a twelve month high of $22.14. The company has a market cap of $5.41 billion, a PE ratio of -52.53 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 8.57% and a negative net margin of 14.80%. As a group, sell-side analysts expect that Freshworks will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barry L. Padgett sold 2,345 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total transaction of $40,568.50. Following the transaction, the director now owns 26,957 shares of the company’s stock, valued at approximately $466,356.10. This trade represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,727,211 shares of company stock valued at $27,224,746. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FRSH. JPMorgan Chase & Co. increased its stake in Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Freshworks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock worth $405,283,000 after acquiring an additional 1,357,526 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Freshworks in the fourth quarter worth $20,666,000. Artisan Partners Limited Partnership acquired a new stake in shares of Freshworks in the fourth quarter worth $16,000,000. Finally, M&G PLC acquired a new stake in shares of Freshworks in the third quarter worth $9,094,000. Institutional investors and hedge funds 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.