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

Shares of Freshworks Inc. (NASDAQ:FRSH) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.69.

Several research analysts have issued reports on the company. Scotiabank reduced 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. JMP Securities upped their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group decreased their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Canaccord Genuity Group boosted their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird reduced their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th.

Freshworks Trading Down 3.0 %

Shares of NASDAQ FRSH opened at $15.83 on Thursday. Freshworks has a 1-year low of $10.81 and a 1-year high of $24.98. The company has a 50-day moving average of $12.77 and a two-hundred day moving average of $12.55. The company has a market cap of $4.79 billion, a PE ratio of -46.56 and a beta of 0.72.

Insider Activity

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the transaction, the director now directly owns 22,530 shares in the company, valued at approximately $259,996.20. The trade was a 27.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the sale, the director now owns 36,689 shares of the company’s stock, valued at $405,780.34. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,463 shares of company stock valued at $406,714 in the last quarter. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FRSH. Blue Trust Inc. raised its holdings in shares of 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 period. Covestor Ltd raised its stake in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the period. CWM LLC raised its stake in shares of Freshworks by 554.5% in the 2nd 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. lifted its holdings in shares of 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 in the last quarter. Finally, Quarry LP boosted its position in shares of 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. Institutional investors 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.