Freshworks Inc. (NASDAQ:FRSH) Given Consensus Rating of "Hold" by Analysts

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) has earned a consensus rating of "Hold" from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.79.

Several research firms have recently commented on FRSH. Scotiabank lifted their price target on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a report on Wednesday. Robert W. Baird set a $18.00 target price on Freshworks in a report on Wednesday, February 12th. Oppenheimer cut their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Barclays upped their price objective on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald raised their target price on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th.

Insiders Place Their Bets

In related news, insider Mika Yamamoto sold 3,574 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total transaction of $50,750.80. Following the completion of the sale, the insider now directly owns 611,604 shares of the company's stock, valued at $8,684,776.80. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the transaction, the director now owns 41,491 shares in the company, valued at $747,252.91. The trade was a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,177 shares of company stock worth $498,042 over the last ninety days. Company insiders own 19.15% of the company's stock.

Hedge Funds Weigh In On Freshworks

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Freshworks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock valued at $405,283,000 after buying an additional 1,357,526 shares during the period. Eminence Capital LP acquired a new position in shares of Freshworks in the fourth quarter worth $86,002,000. JPMorgan Chase & Co. increased its stake in shares of Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock worth $60,503,000 after acquiring an additional 1,752,995 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Freshworks by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock worth $75,588,000 after acquiring an additional 79,388 shares in the last quarter. Finally, TPG GP A LLC boosted its position in Freshworks by 28.7% during the fourth quarter. TPG GP A LLC now owns 4,346,855 shares of the company's stock valued at $70,289,000 after purchasing an additional 969,283 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Performance

Shares of FRSH stock traded up $0.21 on Friday, hitting $14.55. The stock had a trading volume of 6,039,223 shares, compared to its average volume of 3,364,952. The stock's 50 day moving average is $14.51 and its 200-day moving average is $15.36. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -45.47 and a beta of 0.98. Freshworks has a 52-week low of $10.81 and a 52-week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The business had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business's revenue was up 18.9% compared to the same quarter last year. Equities analysts expect that Freshworks will post -0.19 earnings per share for the current year.

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.