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

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.07.

FRSH has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Freshworks from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. Oppenheimer decreased their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group decreased their price objective on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a report on Monday, March 31st. Needham & Company LLC restated a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Finally, Wells Fargo & Company upped their price objective on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th.

Insider Transactions at Freshworks

In related news, Director Johanna Flower sold 8,000 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the sale, the director directly owned 48,094 shares of the company's stock, valued at approximately $711,791.20. This represents a 14.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $124,808.40. Following the sale, the director directly owned 38,870 shares in the company, valued at $575,276. This trade represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,075 shares of company stock worth $3,219,261. 11.17% of the stock is owned by insiders.

Institutional Trading of Freshworks

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Freshworks during the 4th quarter valued at about $20,666,000. Deutsche Bank AG grew its position in Freshworks by 15.8% during the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after purchasing an additional 70,001 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Freshworks by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company's stock valued at $26,033,000 after purchasing an additional 53,185 shares during the last quarter. ProShare Advisors LLC grew its position in Freshworks by 48.9% during the 4th quarter. ProShare Advisors LLC now owns 58,200 shares of the company's stock valued at $941,000 after purchasing an additional 19,125 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Freshworks during the 1st quarter valued at about $13,426,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Stock Performance

NASDAQ:FRSH traded up $0.07 during midday trading on Friday, reaching $14.12. 3,132,683 shares of the stock traded hands, compared to its average volume of 3,322,178. The company has a fifty day moving average of $15.06 and a 200 day moving average of $15.49. Freshworks has a 12 month low of $10.81 and a 12 month high of $19.77. The stock has a market capitalization of $4.17 billion, a P/E ratio of -58.83 and a beta of 0.95.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 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 analyst estimates of $191.90 million. During the same period in the prior year, the business posted $0.10 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. On average, analysts predict that Freshworks will post -0.19 EPS for the current fiscal 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.