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

Key Points

• Freshworks Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with an average 12-month price target of $20.29.
• Insider trading activity showed a significant sell-off, with directors Johanna Flower and Zachary Nelson selling 8,000 and 8,433 shares, respectively, both at an average price of $14.80.
• For the last quarter, Freshworks reported $204.68 million in revenue and $0.18 earnings per share, surpassing analysts' expectations.

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.2857.

Several equities research analysts have recently issued reports on FRSH shares. Piper Sandler set a $25.00 price objective on shares of Freshworks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. JMP Securities reissued a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a report on Wednesday, April 30th. UBS Group decreased their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company boosted 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. Finally, Wall Street Zen upgraded shares of Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th.

Insider Activity at Freshworks

In other news, Director Johanna Flower sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total value of $118,400.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total value of $124,808.40. Following the transaction, the director owned 38,870 shares of the company's stock, valued at $575,276. This trade represents a 17.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,288 shares of company stock valued at $3,031,863. Corporate insiders own 11.17% of the company's stock.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently made changes to their positions in FRSH. National Bank of Canada FI increased its holdings in Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after purchasing an additional 3,700 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Freshworks in the first quarter worth $70,000. 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. DekaBank Deutsche Girozentrale increased its stake in shares of Freshworks by 91.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after buying an additional 2,814 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Freshworks by 47.8% in the fourth quarter. Quarry LP now owns 5,410 shares of the company's stock valued at $87,000 after buying an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Freshworks Stock Performance

Freshworks stock opened at $12.99 on Tuesday. Freshworks has a 52 week low of $10.81 and a 52 week high of $19.77. The firm has a market capitalization of $3.83 billion, a PE ratio of -72.16 and a beta of 0.94. The business's 50-day simple moving average is $14.76 and its 200-day simple moving average is $15.24.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%. The company's revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. Research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.