Freshworks Inc. (NASDAQ:FRSH - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.84 and last traded at $10.86, with a volume of 1758267 shares traded. The stock had previously closed at $11.07.
Analyst Ratings Changes
Several brokerages recently issued reports on FRSH. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of Freshworks in a research report on Friday, September 12th. Piper Sandler upped their target price on shares of Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Freshworks from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 29th. Wall Street Zen lowered shares of Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Finally, Robert W. Baird cut their target price on shares of Freshworks from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Freshworks has an average rating of "Moderate Buy" and a consensus price target of $20.07.
Check Out Our Latest Research Report on FRSH
Freshworks Price Performance
The stock has a market capitalization of $3.18 billion, a P/E ratio of -60.55 and a beta of 0.91. The firm's 50 day moving average price is $12.60 and its 200 day moving average price is $13.72.
Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The company reported $0.18 EPS for the quarter. The firm had revenue of $204.68 million during the quarter. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. On average, equities research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.
Insider Activity at Freshworks
In related news, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $13.14, for a total transaction of $110,809.62. Following the transaction, the director owned 38,870 shares in the company, valued at $510,751.80. The trade was a 17.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer H. Taylor sold 4,690 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $12.53, for a total transaction of $58,765.70. Following the transaction, the director owned 44,218 shares in the company, valued at $554,051.54. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,329 shares of company stock worth $534,620 over the last ninety days. Corporate insiders own 11.17% of the company's stock.
Institutional Investors Weigh In On Freshworks
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Freshworks by 43.5% in the third quarter. CWM LLC now owns 28,185 shares of the company's stock worth $332,000 after purchasing an additional 8,548 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Freshworks during the third quarter valued at approximately $528,000. Osaic Holdings Inc. grew its holdings in shares of Freshworks by 367.8% during the second quarter. Osaic Holdings Inc. now owns 92,003 shares of the company's stock valued at $1,353,000 after buying an additional 72,337 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Freshworks by 5.0% during the second quarter. Thrivent Financial for Lutherans now owns 200,636 shares of the company's stock valued at $2,992,000 after buying an additional 9,521 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Freshworks during the second quarter valued at approximately $354,000. Hedge funds and other institutional investors own 75.58% of the company's stock.
About Freshworks
(
Get Free Report)
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.
See Also
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