Freshworks Inc. (NASDAQ:FRSH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $22.00.

A number of brokerages have recently issued reports on FRSH. Barclays lowered their price target on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, May 3rd. JMP Securities reduced 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. Oppenheimer cut shares of Freshworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Morgan Stanley reduced their price target on shares of Freshworks from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reduced their price target on shares of Freshworks from $25.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd.

Insider Buying and Selling

In other Freshworks news, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 19,991 shares of the company’s stock, valued at $254,485.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $12.75, for a total value of $107,635.50. Following the sale, the director now owns 16,535 shares in the company, valued at $210,821.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction on Monday, June 10th. The shares were sold at an average price of $12.73, for a total value of $89,555.55. Following the completion of the sale, the director now directly owns 19,991 shares of the company’s stock, valued at $254,485.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,100 shares of company stock valued at $442,469 over the last ninety days. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its position in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Freshworks during the 3rd quarter worth approximately $81,000. EntryPoint Capital LLC purchased a new position in shares of Freshworks during the 1st quarter worth approximately $82,000. Quest Partners LLC purchased a new position in Freshworks in the 4th quarter valued at approximately $166,000. Finally, SG Americas Securities LLC purchased a new position in Freshworks in the 1st quarter valued at approximately $179,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $12.69 on Monday. The company has a market capitalization of $3.79 billion, a P/E ratio of -31.72 and a beta of 0.74. Freshworks has a 52-week low of $11.90 and a 52-week high of $24.98. The company’s 50 day moving average price is $13.98 and its 200-day moving average price is $18.33.

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

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.