Brokerages Set Freshworks Inc. (NASDAQ:FRSH) PT at $17.54

Freshworks Inc. (NASDAQ:FRSH) has been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.54.

A number of equities research analysts have issued reports on the company. Jefferies Financial Group cut their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on Freshworks in a report on Wednesday, October 16th. They issued an “equal weight” rating and a $11.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Freshworks in a report on Wednesday, July 31st. Finally, Piper Sandler lowered their target price on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th.

Insider Activity at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total transaction of $52,331.45. Following the transaction, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the completion of the transaction, the director now owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the completion of the sale, the director now owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,456 shares of company stock worth $530,102 in the last 90 days. 19.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FRSH. GSA Capital Partners LLP boosted its position in Freshworks by 89.4% during the third quarter. GSA Capital Partners LLP now owns 97,910 shares of the company’s stock worth $1,124,000 after purchasing an additional 46,204 shares in the last quarter. Versor Investments LP acquired a new stake in Freshworks in the 3rd quarter valued at $383,000. State of New Jersey Common Pension Fund D lifted its holdings in Freshworks by 19.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 163,392 shares of the company’s stock valued at $1,876,000 after purchasing an additional 27,139 shares in the last quarter. Covestor Ltd grew its position in shares of Freshworks by 89.9% in the third 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. Finally, Olympiad Research LP increased its stake in shares of Freshworks by 95.7% during the third quarter. Olympiad Research LP now owns 41,855 shares of the company’s stock worth $480,000 after purchasing an additional 20,468 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Trading Up 1.7 %

Shares of NASDAQ:FRSH opened at $12.44 on Friday. Freshworks has a 12-month low of $10.81 and a 12-month high of $24.98. The company has a market cap of $3.76 billion, a PE ratio of -35.54 and a beta of 0.72. The stock has a 50 day moving average of $11.42 and a 200 day moving average of $12.59.

About Freshworks

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.