Freshworks (NASDAQ:FRSH) Stock Price Target Raised at Canaccord Genuity Group

Freshworks (NASDAQ:FRSH) had its target price increased by research analysts at Canaccord Genuity Group from $15.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective indicates a potential upside of 28.21% from the company’s current price.

Several other research firms also recently issued reports on FRSH. Wall Street Zen upgraded Freshworks from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. KeyCorp started coverage on Freshworks in a research report on Monday, September 14th. They set an “overweight” rating and a $18.00 price objective on the stock. Guggenheim initiated coverage on Freshworks in a report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 target price for the company. UBS Group boosted their target price on shares of Freshworks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird set a $13.00 price target on shares of Freshworks in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and a consensus target price of $15.92.

Freshworks Price Performance

Freshworks stock traded down $0.89 during trading hours on Wednesday, hitting $13.26. The company had a trading volume of 11,365,503 shares, compared to its average volume of 9,763,424. The firm has a 50-day moving average of $13.47 and a 200 day moving average of $10.48. The firm has a market cap of $3.46 billion, a PE ratio of 20.72, a PEG ratio of 9.47 and a beta of 0.80. Freshworks has a one year low of $6.79 and a one year high of $15.51.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, November 3rd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. Freshworks had a return on equity of 5.52% and a net margin of 20.49%. The company had revenue of $245.43 million for the quarter, compared to the consensus estimate of $245.06 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts expect that Freshworks will post 0.05 earnings per share for the current year.

Insider Transactions at Freshworks

In other Freshworks news, CAO Philippa Lawrence sold 3,492 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $12.98, for a total transaction of $45,326.16. Following the transaction, the chief accounting officer owned 379,639 shares in the company, valued at $4,927,714.22. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.54% of the stock is owned by corporate insiders.

Institutional Trading of Freshworks

Large investors have recently modified their holdings of the stock. Generation Investment Management LLP bought a new position in shares of Freshworks in the second quarter worth $6,392,000. Assenagon Asset Management S.A. acquired a new position in Freshworks in the second quarter valued at about $2,565,000. First Trust Advisors LP lifted its position in Freshworks by 209.6% during the first quarter. First Trust Advisors LP now owns 262,849 shares of the company’s stock worth $2,111,000 after purchasing an additional 177,963 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Freshworks by 403.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,444,124 shares of the company’s stock worth $11,596,000 after purchasing an additional 1,157,277 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Freshworks by 80.7% during the first quarter. Principal Financial Group Inc. now owns 765,475 shares of the company’s stock worth $6,147,000 after purchasing an additional 341,947 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Freshworks

Here are the key news stories impacting Freshworks this week:

• Positive Sentiment: Freshworks reported Q3 adjusted earnings of $0.22 per share, above the $0.18 consensus, while revenue of $245.4 million slightly topped estimates and grew 14% year over year. The company also posted record adjusted free cash flow of $73.9 million and GAAP net income of $18.3 million. Freshworks Q3 results
• Positive Sentiment: Cantor Fitzgerald raised its price target to $20 from $15 and maintained an Overweight rating, citing potential upside. Cantor Fitzgerald recommendations
• Neutral Sentiment: Piper Sandler lifted its target to $15 from $12 but kept a Neutral rating, suggesting a more measured view of the shares. Piper Sandler recommendations
• Negative Sentiment: Freshworks forecast 2026 revenue of $965 million to $966 million and aims for more than $0.94 in adjusted free cash flow per share. The outlook was characterized as cautious, tempering the upbeat quarterly results and potentially contributing to investor concern about the growth trajectory. Freshworks 2026 outlook
• Negative Sentiment: Wolfe Research downgraded FRSH from Outperform to Peer Perform, removing a bullish endorsement. Wolfe Research recommendations

About Freshworks

Freshworks Inc (NASDAQ:FRSH) develops cloud-based customer and employee engagement software for businesses of various sizes. Its products are designed to help organizations manage customer support, IT service operations, sales activities, and marketing workflows through user-friendly, artificial intelligence-enabled applications.

The company’s product portfolio includes Freshdesk for customer service and support, Freshservice for IT and enterprise service management, Freshsales for customer relationship management, and Freshmarketer for marketing automation and customer engagement.