Brokerages Set Freshworks Inc. (NASDAQ:FRSH) Target Price at $20.07

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

FRSH has been the subject of several research reports. Wall Street Zen raised Freshworks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Wells Fargo & Company raised their price objective on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Scotiabank raised their price objective on shares of Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Piper Sandler reiterated an "overweight" rating and issued a $22.00 target price (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group decreased their target price on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday, March 31st.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 7,558 shares of Freshworks stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the completion of the transaction, the director directly owned 44,218 shares of the company's stock, valued at approximately $669,018.34. This trade represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $14.69, for a total transaction of $123,880.77. Following the sale, the director owned 24,890 shares of the company's stock, valued at $365,634.10. This trade represents a 25.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,075 shares of company stock worth $3,219,261 over the last three months. 11.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freshworks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Xponance Inc. raised its position in 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 purchasing an additional 758 shares during the last quarter. Amundi increased its position in Freshworks by 1.3% in the 1st 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 raised its stake in shares of Freshworks by 30.2% in the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after acquiring an additional 1,087 shares during the last quarter. Arizona State Retirement System lifted 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. Finally, Legato Capital Management LLC grew its stake in shares of Freshworks by 4.0% during the first quarter. Legato Capital Management LLC now owns 33,080 shares of the company's stock valued at $467,000 after purchasing an additional 1,260 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Trading Down 4.6%

Freshworks stock traded down $0.68 during trading hours on Friday, reaching $14.05. 2,672,141 shares of the company were exchanged, compared to its average volume of 3,311,823. The stock has a 50-day moving average of $15.07 and a 200 day moving average of $15.51. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -58.54 and a beta of 0.95. Freshworks has a 12 month low of $10.81 and a 12 month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The company had revenue of $196.27 million during the quarter, compared to analysts' expectations of $191.90 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, research analysts forecast that Freshworks will post -0.19 EPS for the current year.

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.