Freshworks Inc. (NASDAQ:FRSH) Given Average Rating of “Hold” by Brokerages

Shares of Freshworks Inc. (NASDAQ:FRSH) have received an average rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $19.2308.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company began coverage on Freshworks in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 price objective on the stock. Robert W. Baird decreased their price objective on shares of Freshworks from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Freshworks in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Freshworks in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Freshworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th.

Insider Buying and Selling

In other Freshworks news, CAO Philippa Lawrence sold 5,846 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $12.06, for a total value of $70,502.76. Following the completion of the transaction, the chief accounting officer owned 392,711 shares in the company, valued at $4,736,094.66. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dennis Woodside bought 176,100 shares of Freshworks stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $11.31 per share, for a total transaction of $1,991,691.00. Following the completion of the transaction, the chief executive officer owned 2,111,517 shares of the company’s stock, valued at approximately $23,881,257.27. This represents a 9.10% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 22,267 shares of company stock valued at $282,301. Corporate insiders own 11.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Freshworks during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in Freshworks in the third quarter valued at $27,000. Rothschild Investment LLC boosted its stake in Freshworks by 560.0% during the 3rd quarter. Rothschild Investment LLC now owns 2,277 shares of the company’s stock valued at $27,000 after acquiring an additional 1,932 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Freshworks by 136.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,745 shares of the company’s stock worth $32,000 after acquiring an additional 1,583 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Freshworks in the 3rd quarter worth about $67,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Stock Performance

Freshworks stock opened at $11.77 on Friday. Freshworks has a 1 year low of $10.51 and a 1 year high of $19.77. The firm has a 50 day moving average price of $12.05 and a 200 day moving average price of $12.73. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -117.69 and a beta of 0.89.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Thursday, September 11th. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $204.68 million during the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. Sell-side analysts predict that Freshworks will post -0.19 EPS for the current year.

About Freshworks

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.