Freshworks (NASDAQ:FRSH) Stock Price Up 5.2%

Freshworks Inc. (NASDAQ:FRSH - Get Free Report)'s share price was up 5.2% during trading on Thursday . The company traded as high as $18.69 and last traded at $18.58. Approximately 1,270,751 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 2,579,917 shares. The stock had previously closed at $17.66.

Analyst Ratings Changes

A number of equities analysts have commented on FRSH shares. Wolfe Research raised Freshworks from a "peer perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a research note on Tuesday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 price target on shares of Freshworks in a research note on Wednesday, February 7th. JMP Securities lifted their price target on Freshworks from $25.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Wednesday, February 7th. Needham & Company LLC lifted their price target on Freshworks from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 28th. Finally, Jefferies Financial Group raised Freshworks from a "hold" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $30.00 in a research note on Friday, January 5th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Freshworks presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.00.

Freshworks Stock Up 2.0 %

The company has a market capitalization of $5.37 billion, a P/E ratio of -38.38 and a beta of 0.90. The company has a 50-day moving average of $19.94 and a two-hundred day moving average of $20.19.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. Freshworks had a negative return on equity of 12.55% and a negative net margin of 23.04%. The company had revenue of $160.11 million for the quarter, compared to analyst estimates of $158.11 million. As a group, equities analysts expect that Freshworks Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshworks news, Director Johanna Flower sold 4,800 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $19.05, for a total value of $91,440.00. Following the sale, the director now directly owns 23,451 shares of the company's stock, valued at $446,741.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Freshworks news, Director Johanna Flower sold 4,800 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $19.05, for a total value of $91,440.00. Following the sale, the director now directly owns 23,451 shares of the company's stock, valued at $446,741.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry L. Padgett sold 4,690 shares of the business's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.22, for a total value of $94,831.80. Following the completion of the sale, the director now directly owns 17,387 shares in the company, valued at $351,565.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 458,557 shares of company stock valued at $9,392,330. 26.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FRSH. BlackRock Inc. raised its stake in shares of Freshworks by 210.2% in the second quarter. BlackRock Inc. now owns 11,984,191 shares of the company's stock worth $210,682,000 after purchasing an additional 8,120,351 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Freshworks by 37.9% in the third quarter. Vanguard Group Inc. now owns 12,599,434 shares of the company's stock worth $163,415,000 after purchasing an additional 3,460,129 shares during the last quarter. State Street Corp raised its stake in shares of Freshworks by 239.7% in the second quarter. State Street Corp now owns 3,294,195 shares of the company's stock worth $57,912,000 after purchasing an additional 2,324,432 shares during the last quarter. Soros Fund Management LLC purchased a new position in shares of Freshworks in the first quarter worth $34,883,000. Finally, Norges Bank purchased a new position in shares of Freshworks in the fourth quarter worth $44,919,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

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.