Analysts Set Freshworks Inc. (NASDAQ:FRSH) Target Price at $19.29

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.29.

Several equities analysts have weighed in on FRSH shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer raised shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Thursday. JMP Securities lifted their price objective on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on Freshworks from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th.

Freshworks Stock Down 0.1 %

FRSH opened at $17.44 on Friday. Freshworks has a 12-month low of $10.81 and a 12-month high of $23.30. The firm has a market capitalization of $5.28 billion, a P/E ratio of -51.29 and a beta of 0.88. The stock has a fifty day moving average of $16.18 and a 200-day moving average of $13.42.

Insider Buying and Selling at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the transaction, the director now owns 23,497 shares of the company’s stock, valued at approximately $286,428.43. This represents a 26.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $15.49, for a total value of $72,570.65. Following the sale, the director now directly owns 37,286 shares in the company, valued at approximately $577,560.14. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,702,163 shares of company stock worth $26,721,018 over the last ninety days. Company insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. State Street Corp lifted its position in Freshworks by 7.1% during the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after buying an additional 313,982 shares in the last quarter. Geode Capital Management LLC grew its holdings in Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock worth $52,750,000 after acquiring an additional 66,342 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after acquiring an additional 604,658 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Freshworks by 7.6% during the second quarter. Renaissance Technologies LLC now owns 3,134,600 shares of the company’s stock worth $39,778,000 after purchasing an additional 221,900 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.