Freshworks (NASDAQ:FRSH) Coverage Initiated by Analysts at Credit Suisse Group

Credit Suisse Group started coverage on shares of Freshworks (NASDAQ:FRSHGet Rating) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $14.00 target price on the stock.

Several other research firms have also recently commented on FRSH. Oppenheimer cut their price target on Freshworks from $26.00 to $18.00 and set an outperform rating for the company in a report on Wednesday, August 3rd. StockNews.com started coverage on shares of Freshworks in a research report on Wednesday, October 12th. They set a sell rating on the stock. Jefferies Financial Group cut their price objective on shares of Freshworks from $15.00 to $14.00 and set a hold rating for the company in a research report on Monday, October 31st. JMP Securities decreased their target price on shares of Freshworks from $29.00 to $23.00 and set a market outperform rating on the stock in a report on Wednesday, August 3rd. Finally, Canaccord Genuity Group dropped their price target on shares of Freshworks from $21.00 to $17.00 and set a buy rating for the company in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Freshworks currently has an average rating of Hold and an average price target of $17.46.

Freshworks Trading Up 6.9 %

FRSH stock opened at $13.93 on Monday. The firm has a 50-day moving average of $13.53 and a two-hundred day moving average of $13.90. Freshworks has a 12 month low of $10.51 and a 12 month high of $36.23. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -15.48 and a beta of 0.58.

Insider Activity at Freshworks

In other Freshworks news, Director Randy Gottfried sold 33,750 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $14.81, for a total transaction of $499,837.50. Following the transaction, the director now directly owns 14,476 shares in the company, valued at $214,389.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Freshworks news, Director Randy Gottfried sold 33,750 shares of Freshworks stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $14.81, for a total value of $499,837.50. Following the completion of the transaction, the director now directly owns 14,476 shares of the company’s stock, valued at approximately $214,389.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Stacey Epstein sold 16,300 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $14.57, for a total transaction of $237,491.00. Following the sale, the chief marketing officer now directly owns 108,215 shares in the company, valued at approximately $1,576,692.55. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,626,690 shares of company stock worth $23,932,894 and sold 92,229 shares worth $1,277,450. 29.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Freshworks

A number of hedge funds have recently bought and sold shares of the stock. Clarius Group LLC purchased a new stake in shares of Freshworks during the second quarter worth approximately $200,000. Ieq Capital LLC grew its position in shares of Freshworks by 6.0% in the 2nd quarter. Ieq Capital LLC now owns 70,459 shares of the company’s stock valued at $927,000 after buying an additional 4,000 shares during the last quarter. abrdn plc purchased a new stake in Freshworks in the first quarter valued at $283,000. Wafra Inc. grew its holdings in shares of Freshworks by 58.0% during the first quarter. Wafra Inc. now owns 1,030,016 shares of the company’s stock worth $18,458,000 after purchasing an additional 378,052 shares during the last quarter. Finally, Crestone Asset Management LLC acquired a new stake in shares of Freshworks during the second quarter worth about $1,009,000. Institutional investors and hedge funds own 31.25% of the company’s stock.

Freshworks Company Profile

(Get Rating)

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

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