Analysts Set Freshworks Inc. (NASDAQ:FRSH) Target Price at $25.00

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $25.29.

A number of brokerages have recently weighed in on FRSH. 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. Jefferies Financial Group raised shares of Freshworks from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $30.00 in a research note on Friday, January 5th. Morgan Stanley reduced their price target on shares of Freshworks from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. JMP Securities upped their price target on shares of Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 7th. Finally, Needham & Company LLC upped their price target on shares of Freshworks from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th.

Freshworks Stock Up 1.0 %

Freshworks stock opened at $18.35 on Wednesday. The firm has a 50-day moving average price of $18.87 and a two-hundred day moving average price of $20.06. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -39.04 and a beta of 0.90. Freshworks has a 52-week low of $12.22 and a 52-week high of $24.98.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $160.11 million during the quarter, compared to analyst estimates of $158.11 million. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. Research analysts expect that Freshworks will post -0.37 earnings per share for the current year.

Insider Activity

In other news, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $21.54, for a total transaction of $135,766.62. Following the sale, the director now owns 88,431 shares in the company, valued at $1,904,803.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $21.54, for a total transaction of $135,766.62. Following the sale, the director now owns 88,431 shares in the company, valued at $1,904,803.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rathnagirish Mathrubootham sold 430,149 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.44, for a total transaction of $8,792,245.56. The disclosure for this sale can be found here. Insiders have sold 460,792 shares of company stock worth $9,408,403 over the last 90 days. 26.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new position in Freshworks in the 3rd quarter valued at approximately $81,000. Counterpoint Mutual Funds LLC increased its stake in Freshworks by 29.8% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 6,833 shares of the company’s stock valued at $136,000 after buying an additional 1,567 shares during the period. Quest Partners LLC acquired a new position in Freshworks in the 4th quarter valued at approximately $166,000. Steph & Co. acquired a new position in Freshworks in the 1st quarter valued at approximately $201,000. Finally, Jasper Ridge Partners L.P. acquired a new position in Freshworks in the 3rd quarter valued at approximately $217,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

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.