Analysts Set Freshworks Inc. (NASDAQ:FRSH) PT at $21.14

Shares of Freshworks Inc. (NASDAQ:FRSH) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $21.14.

A number of equities analysts have commented on FRSH shares. Needham & Company LLC boosted their target price on shares of Freshworks from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Cantor Fitzgerald raised their target price on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Scotiabank boosted their target price on Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th.

Freshworks Stock Performance

NASDAQ:FRSH opened at $14.88 on Friday. The firm has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $14.77. Freshworks has a one year low of $10.81 and a one year high of $19.77. The firm has a market cap of $4.49 billion, a P/E ratio of -46.50 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data 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 return on equity of 6.63% and a negative net margin of 13.24%. On average, research analysts predict that Freshworks will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Freshworks news, Director Barry L. Padgett sold 2,345 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total transaction of $40,568.50. Following the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $16.08, for a total value of $13,426,800.00. Following the completion of the transaction, the chairman now directly owns 551,137 shares of the company’s stock, valued at approximately $8,862,282.96. This trade represents a 60.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,735,263 shares of company stock worth $27,361,209. 19.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Freshworks

Several hedge funds have recently bought and sold shares of FRSH. Avion Wealth acquired a new position in shares of Freshworks in the 4th quarter valued at $26,000. Covestor Ltd raised its position in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Freshworks during the 3rd quarter worth about $57,000. Blue Trust Inc. grew its position in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after acquiring an additional 954 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after purchasing an additional 3,700 shares in the last quarter. 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.