Freshworks Inc. (NASDAQ:FRSH) Receives $18.69 Consensus Price Target from Analysts

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

A number of equities analysts recently weighed in on FRSH shares. Robert W. Baird decreased their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. Piper Sandler increased their price objective on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Freshworks Trading Up 2.0 %

FRSH opened at $15.90 on Monday. The firm has a 50 day moving average of $14.76 and a two-hundred day moving average of $12.95. Freshworks has a 12-month low of $10.81 and a 12-month high of $24.25. The firm has a market capitalization of $4.82 billion, a PE ratio of -46.76 and a beta of 0.90.

Insider Activity at Freshworks

In other Freshworks news, Director Barry L. Padgett sold 2,345 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total transaction of $40,568.50. Following the completion of the sale, the director now directly owns 26,957 shares of the company’s stock, valued at approximately $466,356.10. This trade represents a 8.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 5,718 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total value of $96,920.10. Following the sale, the insider now owns 403,108 shares of the company’s stock, valued at $6,832,680.60. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,699,318 shares of company stock valued at $26,614,569 over the last ninety days. Insiders own 19.15% of the company’s stock.

Hedge Funds Weigh In On Freshworks

Large investors have recently made changes to their positions in the stock. Amalgamated Bank raised its position in Freshworks by 29.1% during the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after acquiring an additional 1,588 shares during the last quarter. Covestor Ltd grew its holdings in Freshworks by 89.9% during the 3rd 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 last quarter. Quarry LP increased its position in Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after buying an additional 2,645 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Freshworks by 1,987.3% in the third 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Freshworks by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company’s stock valued at $462,000 after acquiring an additional 3,182 shares in the last quarter. 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.