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

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

A number of research analysts have recently commented on FRSH shares. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research report on Tuesday, December 17th. Robert W. Baird reduced their target price on 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 upped their target price on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price objective on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $15.33 on Monday. The stock has a fifty day moving average of $14.59 and a 200-day moving average of $12.91. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $24.34. The stock has a market cap of $4.64 billion, a PE ratio of -45.09 and a beta of 0.90.

Insider Buying and Selling at Freshworks

In other news, Director Barry L. Padgett sold 2,345 shares of Freshworks stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the transaction, the director now owns 26,957 shares in the company, valued at approximately $466,356.10. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the sale, the director now owns 23,497 shares of the company’s stock, valued at $259,406.88. This represents a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,699,318 shares of company stock worth $26,614,569 over the last ninety days. Insiders own 19.15% of the company’s stock.

Hedge Funds Weigh In On Freshworks

A number of large investors have recently bought and sold shares of the stock. Amalgamated Bank grew its holdings in shares of Freshworks by 29.1% in the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after purchasing an additional 1,588 shares during the last quarter. Covestor Ltd raised 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 boosted its position in Freshworks by 157.6% during the 2nd 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 period. Blue Trust Inc. grew its holdings in 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased 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 during the period. 75.58% of the stock is owned by hedge funds and other 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.