Freshworks (NASDAQ:FRSH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Freshworks (NASDAQ:FRSHFree Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

A number of other brokerages have also commented on FRSH. Cantor Fitzgerald reduced their price target on shares of Freshworks from $25.00 to $19.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC decreased their target price on shares of Freshworks from $30.00 to $20.00 and set a buy rating for the company in a research note on Monday, May 20th. Morgan Stanley dropped their price target on Freshworks from $22.00 to $18.00 and set an equal weight rating on the stock in a research note on Thursday, May 2nd. Piper Sandler cut their price objective on Freshworks from $28.00 to $22.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. Finally, Barclays decreased their target price on shares of Freshworks from $20.00 to $15.00 and set an equal weight rating on the stock in a research note on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $22.00.

Check Out Our Latest Report on FRSH

Freshworks Price Performance

Shares of Freshworks stock opened at $12.32 on Friday. Freshworks has a 1 year low of $12.19 and a 1 year high of $24.98. The firm’s 50-day moving average is $14.96 and its 200 day moving average is $18.87. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -30.80 and a beta of 0.75.

Freshworks (NASDAQ:FRSHGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $163.53 million. On average, equities analysts expect that Freshworks will post -0.34 EPS for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 7,035 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total transaction of $127,192.80. Following the sale, the director now directly owns 19,991 shares in the company, valued at $361,437.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $12.75, for a total transaction of $107,635.50. Following the transaction, the director now owns 16,535 shares in the company, valued at $210,821.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total transaction of $127,192.80. Following the completion of the sale, the director now owns 19,991 shares of the company’s stock, valued at approximately $361,437.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,880 shares of company stock valued at $456,665. Insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Freshworks by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,304,325 shares of the company’s stock valued at $30,639,000 after acquiring an additional 67,254 shares during the last quarter. Vanguard Group Inc. increased its stake in Freshworks by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 18,530,801 shares of the company’s stock worth $369,134,000 after buying an additional 2,363,550 shares during the period. FACT Capital LP lifted its holdings in Freshworks by 9.3% during the 4th quarter. FACT Capital LP now owns 764,373 shares of the company’s stock valued at $17,955,000 after buying an additional 64,957 shares in the last quarter. Norges Bank purchased a new stake in Freshworks in the 4th quarter valued at about $44,919,000. Finally, Qube Research & Technologies Ltd bought a new position in Freshworks in the 3rd quarter worth about $2,445,000. Institutional investors own 75.58% of the company’s stock.

About Freshworks

(Get Free Report)

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.

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Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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