Freshworks Inc. (NASDAQ:FRSH) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.07.

FRSH has been the topic of several research reports. Piper Sandler reissued an "overweight" rating and set a $22.00 target price (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. JMP Securities reiterated a "market outperform" rating and set a $27.00 price target on shares of Freshworks in a research note on Wednesday, April 30th. Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a research note on Tuesday, June 3rd. Morgan Stanley lifted their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of Freshworks in a report on Monday, March 17th.

Insider Activity

In related news, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $16.01, for a total value of $1,136,661.97. Following the completion of the transaction, the chairman now directly owns 724,515 shares of the company's stock, valued at $11,599,485.15. This represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mika Yamamoto sold 1,765 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $15.50, for a total transaction of $27,357.50. Following the completion of the transaction, the insider now owns 574,776 shares in the company, valued at $8,909,028. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,121 shares of company stock worth $2,665,716. 11.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Freshworks

Several institutional investors have recently modified their holdings of the stock. Xponance Inc. grew its position in shares of Freshworks by 5.1% in the 1st quarter. Xponance Inc. now owns 15,605 shares of the company's stock valued at $220,000 after buying an additional 758 shares during the last quarter. Versor Investments LP boosted its stake in Freshworks by 3.0% in the fourth quarter. Versor Investments LP now owns 34,400 shares of the company's stock valued at $556,000 after acquiring an additional 1,000 shares in the last quarter. Amundi boosted its stake in Freshworks by 1.3% in the first quarter. Amundi now owns 80,074 shares of the company's stock valued at $1,049,000 after acquiring an additional 1,040 shares in the last quarter. Covestor Ltd grew its holdings in shares of Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after purchasing an additional 1,087 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Freshworks by 2.2% during the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock worth $836,000 after purchasing an additional 1,103 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Price Performance

Shares of FRSH stock traded down $0.39 during trading hours on Monday, hitting $14.93. The company had a trading volume of 2,502,775 shares, compared to its average volume of 3,295,708. The stock has a market capitalization of $4.40 billion, a PE ratio of -62.21 and a beta of 0.97. The company's fifty day moving average is $14.51 and its 200 day moving average is $15.66. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

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 analysts' consensus estimates of $0.13 by $0.05. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The company had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. Equities analysts forecast 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.