Freshworks Inc. (NASDAQ:FRSH) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $20.21.

Several research firms have recently commented on FRSH. Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of Freshworks in a research note on Monday, March 17th. Canaccord Genuity Group upped their price target on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. UBS Group cut their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th.

Freshworks Price Performance

Freshworks stock opened at $14.51 on Thursday. Freshworks has a 12 month low of $10.81 and a 12 month high of $19.77. The business has a 50 day simple moving average of $14.12 and a 200-day simple moving average of $15.70. The stock has a market capitalization of $4.28 billion, a PE ratio of -45.34 and a beta of 0.97.

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

Insider Activity

In other news, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.74, for a total value of $47,859.66. Following the completion of the transaction, the insider now owns 615,893 shares in the company, valued at $10,310,048.82. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $14.69, for a total value of $123,880.77. Following the completion of the transaction, the director now owns 24,890 shares of the company's stock, valued at approximately $365,634.10. This represents a 25.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,421 shares of company stock worth $603,164 over the last 90 days. 11.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Freshworks

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Freshworks by 4.5% during the first quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock valued at $369,539,000 after acquiring an additional 1,126,013 shares during the last quarter. Eminence Capital LP acquired a new stake in shares of Freshworks during the fourth quarter valued at $86,002,000. Geode Capital Management LLC boosted its stake 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 valued at $75,588,000 after acquiring an additional 79,388 shares during the last quarter. TPG GP A LLC boosted its stake in shares of 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 acquiring an additional 969,283 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Freshworks by 27.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,951,115 shares of the company's stock valued at $55,750,000 after acquiring an additional 862,315 shares during the last quarter. Institutional investors and hedge funds 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.

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