Shares of Freshworks Inc. (NASDAQ:FRSH - Get Rating) have received a consensus rating of "Hold" from the fourteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.42.
A number of analysts recently weighed in on the stock. Wolfe Research cut shares of Freshworks from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, December 21st. Morgan Stanley decreased their price target on shares of Freshworks from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 19th. Jefferies Financial Group decreased their price target on shares of Freshworks from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, October 31st. StockNews.com initiated coverage on shares of Freshworks in a research report on Wednesday, October 12th. They set a "sell" rating for the company. Finally, Credit Suisse Group initiated coverage on shares of Freshworks in a report on Monday, November 21st. They issued a "neutral" rating and a $14.00 price objective on the stock.
Freshworks Stock Down 1.1 %
Shares of NASDAQ FRSH opened at $15.00 on Monday. Freshworks has a 52-week low of $10.51 and a 52-week high of $23.72. The firm has a fifty day moving average of $14.44 and a 200-day moving average of $14.08. The stock has a market capitalization of $4.32 billion, a PE ratio of -16.67 and a beta of 0.62.
Freshworks (NASDAQ:FRSH - Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). Freshworks had a negative net margin of 53.45% and a negative return on equity of 20.74%. The company had revenue of $128.76 million during the quarter, compared to analysts' expectations of $125.07 million. Equities research analysts expect that Freshworks will post -0.8 EPS for the current fiscal year.
Insider Activity
In other news, Director Barry L. Padgett sold 32,809 shares of the company's stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $12.50, for a total value of $410,112.50. Following the sale, the director now owns 16,428 shares in the company, valued at approximately $205,350. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Freshworks news, Director Zachary Nelson sold 21,090 shares of the firm's stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $15.06, for a total value of $317,615.40. Following the transaction, the director now owns 17,222 shares of the company's stock, valued at $259,363.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry L. Padgett sold 32,809 shares of the firm's stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $12.50, for a total transaction of $410,112.50. Following the completion of the transaction, the director now directly owns 16,428 shares in the company, valued at approximately $205,350. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,010,901 shares of company stock worth $14,604,578 and have sold 110,166 shares worth $1,555,696. Company insiders own 29.12% of the company's stock.
Hedge Funds Weigh In On Freshworks
A number of large investors have recently bought and sold shares of FRSH. Bank of New York Mellon Corp lifted its holdings in Freshworks by 3,770.9% in the first quarter. Bank of New York Mellon Corp now owns 597,595 shares of the company's stock worth $10,709,000 after acquiring an additional 582,157 shares during the last quarter. US Bancorp DE lifted its holdings in Freshworks by 1,141.4% in the first quarter. US Bancorp DE now owns 8,044 shares of the company's stock worth $144,000 after acquiring an additional 7,396 shares during the last quarter. Citigroup Inc. bought a new position in Freshworks in the first quarter worth about $255,000. Cibc World Market Inc. bought a new position in Freshworks in the first quarter worth about $887,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Freshworks during the first quarter valued at approximately $267,000. Institutional investors own 46.36% of the company's stock.
About Freshworks
(
Get Rating)
Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.
Featured Stories
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.
Before you consider Freshworks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Freshworks wasn't on the list.
While Freshworks currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
