Freshworks Inc. (NASDAQ:FRSH) Receives Average Recommendation of “Hold” from Analysts

Shares of Freshworks Inc. (NASDAQ:FRSH) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $21.14.

FRSH has been the topic of a number of recent analyst reports. Robert W. Baird set a $18.00 price target on shares of Freshworks in a research note on Wednesday, February 12th. Oppenheimer raised their price objective on Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group set a $22.00 target price on Freshworks in a research report on Thursday, February 6th. Cantor Fitzgerald raised their price target on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group decreased their price objective on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday.

Freshworks Stock Up 1.6 %

Shares of FRSH opened at $14.33 on Wednesday. The company has a 50 day moving average of $16.79 and a two-hundred day moving average of $15.15. Freshworks has a twelve month low of $10.81 and a twelve month high of $19.77. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share 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%. On average, sell-side analysts expect that Freshworks will post -0.19 EPS for the current year.

Insider Transactions at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $15.49, for a total transaction of $72,570.65. Following the completion of the sale, the director now directly owns 37,286 shares in the company, valued at approximately $577,560.14. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Johanna Flower sold 1,450 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the transaction, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,980 shares of company stock valued at $1,084,011 in the last three months. 19.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. purchased a new position in shares of Freshworks in the fourth quarter worth about $5,053,000. JT Stratford LLC raised its holdings in Freshworks by 41.6% in the 4th quarter. JT Stratford LLC now owns 20,133 shares of the company’s stock valued at $326,000 after acquiring an additional 5,917 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of Freshworks during the 4th quarter worth approximately $370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Freshworks by 19.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,676 shares of the company’s stock worth $5,994,000 after buying an additional 60,652 shares in the last quarter. Finally, Vident Advisory LLC acquired a new position in Freshworks during the fourth quarter worth $316,000. Institutional investors and hedge funds 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.