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

Shares of Freshworks Inc. (NASDAQ:FRSH) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.54.

Several research firms have recently commented on FRSH. Wells Fargo & Company initiated coverage on Freshworks in a research note on Wednesday, October 16th. They set an “equal weight” rating and a $11.00 price target for the company. Barclays cut their price objective on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Jefferies Financial Group cut their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Scotiabank lowered their price objective on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st.

Freshworks Stock Up 3.0 %

Shares of FRSH stock opened at $12.05 on Friday. The stock’s 50-day moving average price is $11.41 and its 200 day moving average price is $12.74. The stock has a market capitalization of $3.64 billion, a PE ratio of -34.43 and a beta of 0.73. Freshworks has a 52-week low of $10.81 and a 52-week high of $24.98.

Insider Buying and Selling

In related news, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total value of $70,719.66. Following the sale, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $11.22, for a total value of $70,719.66. Following the sale, the director now owns 223,106 shares of the company’s stock, valued at approximately $2,503,249.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $11.23, for a total value of $52,668.70. Following the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at $402,629.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,803 shares of company stock valued at $435,884. 19.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Freshworks

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in Freshworks by 1,987.3% during 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. Covestor Ltd boosted its holdings in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the last quarter. CWM LLC grew its position in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the period. Advisors Asset Management Inc. increased 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 valued at $54,000 after purchasing an additional 757 shares during the last quarter. Finally, Quarry LP lifted 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 during the period. 75.58% of the stock is currently 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.