Freshworks (NASDAQ:FRSH) Price Target Cut to $20.00 by Analysts at Jefferies Financial Group

Freshworks (NASDAQ:FRSH) had its price objective cut by Jefferies Financial Group from $22.00 to $20.00 in a report published on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

FRSH has been the subject of a number of other research reports. Cantor Fitzgerald upped their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Oppenheimer raised their price objective on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Barclays increased their target price on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their price target on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Stock Performance

NASDAQ FRSH opened at $14.11 on Monday. The company has a market capitalization of $4.25 billion, a P/E ratio of -44.09 and a beta of 0.92. Freshworks has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a fifty day moving average of $16.85 and a 200-day moving average of $15.13.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. As a group, analysts forecast that Freshworks will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Freshworks

In related news, Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total transaction of $385,200.00. Following the sale, the director now directly owns 41,491 shares in the company, valued at $746,838. The trade was a 34.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total value of $133,663.05. Following the completion of the transaction, the director now owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. This trade represents a 25.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,200 shares of company stock valued at $1,073,021. 19.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Freshworks

Several hedge funds have recently bought and sold shares of FRSH. Avion Wealth purchased a new position in shares of Freshworks during the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd bought a new stake in Freshworks in the third quarter worth $57,000. Blue Trust Inc. grew its stake in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after acquiring an additional 954 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares during the last quarter. 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.