Freshworks Inc. (NASDAQ:FRSH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.69.

FRSH has been the subject of a number of research reports. Robert W. Baird cut their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. JMP Securities lifted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Scotiabank lowered their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald cut their price target on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group boosted their price objective on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Freshworks Stock Performance

Shares of FRSH opened at $15.83 on Thursday. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The business has a 50-day moving average of $12.77 and a 200 day moving average of $12.55. The firm has a market cap of $4.79 billion, a P/E ratio of -46.56 and a beta of 0.72.

Insider Activity at Freshworks

In other news, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the transaction, the director now directly owns 36,689 shares in the company, valued at approximately $405,780.34. This represents a 11.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the transaction, the director now directly owns 22,530 shares in the company, valued at approximately $259,996.20. This represents a 27.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,463 shares of company stock valued at $406,714 over the last three months. 19.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FRSH. Blue Trust Inc. lifted its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares during the last quarter. CWM LLC boosted its position in Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after buying an additional 2,878 shares during the period. Covestor Ltd boosted its position in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares during the period. Finally, Quarry LP grew its stake in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.

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.