Freshworks (NASDAQ:FRSH) Stock Rating Lowered by StockNews.com

Freshworks (NASDAQ:FRSH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on FRSH. Robert W. Baird downgraded Freshworks from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $16.00 in a report on Thursday, May 2nd. JMP Securities dropped their price target on shares of Freshworks from $29.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 2nd. Canaccord Genuity Group reduced their price objective on shares of Freshworks from $27.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Barclays dropped their target price on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. Finally, Piper Sandler reduced their target price on Freshworks from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Freshworks Trading Up 2.7 %

NASDAQ FRSH opened at $12.51 on Friday. The business’s 50-day moving average price is $14.48 and its two-hundred day moving average price is $18.65. Freshworks has a 12 month low of $11.90 and a 12 month high of $24.98. The firm has a market capitalization of $3.74 billion, a PE ratio of -31.27 and a beta of 0.74.

Freshworks (NASDAQ:FRSH) last released its earnings results on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $163.53 million. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. As a group, analysts forecast that Freshworks will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 7,028 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $13.74, for a total transaction of $96,564.72. Following the completion of the transaction, the director now owns 19,991 shares in the company, valued at $274,676.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction on Monday, June 10th. The stock was sold at an average price of $12.73, for a total value of $89,555.55. Following the completion of the transaction, the director now directly owns 19,991 shares in the company, valued at $254,485.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 7,028 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $13.74, for a total value of $96,564.72. Following the sale, the director now directly owns 19,991 shares in the company, valued at approximately $274,676.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,880 shares of company stock worth $456,665. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position in shares of Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after acquiring an additional 757 shares during the period. Neo Ivy Capital Management bought a new position in Freshworks in the 3rd quarter valued at $81,000. EntryPoint Capital LLC purchased a new position in shares of Freshworks during the 1st quarter valued at $82,000. Quest Partners LLC purchased a new position in shares of Freshworks during the 4th quarter valued at $166,000. Finally, SG Americas Securities LLC bought a new position in shares of Freshworks in the first quarter worth $179,000. Hedge funds and other institutional investors 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.