Jefferies Financial Group Issues Pessimistic Forecast for Freshworks (NASDAQ:FRSH) Stock Price

Freshworks (NASDAQ:FRSH) had its target price reduced by equities researchers at Jefferies Financial Group from $22.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 39.57% from the stock’s current price.

Several other equities analysts have also recently issued reports on FRSH. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Robert W. Baird set a $18.00 price target on Freshworks in a report on Wednesday, February 12th. Piper Sandler raised their price objective on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Scotiabank raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.14.

Freshworks Trading Up 1.6 %

Shares of NASDAQ FRSH opened at $14.33 on Monday. The company has a 50 day simple moving average of $16.79 and a two-hundred day simple moving average of $15.15. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92. Freshworks has a 12 month low of $10.81 and a 12 month high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Analysts forecast that Freshworks will post -0.19 EPS for the current year.

Insider Activity

In other news, insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total value of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. This trade represents a 0.71 % decrease in their ownership of the stock. 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 stock in a transaction on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the transaction, the director now directly owns 37,286 shares of the company’s stock, valued at approximately $577,560.14. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,980 shares of company stock worth $1,084,011 over the last 90 days. 19.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

A number of hedge funds have recently modified their holdings of FRSH. Avion Wealth purchased a new stake in Freshworks during the 4th quarter valued at about $26,000. Blue Trust Inc. grew its position in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Freshworks by 1,385.8% in the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after purchasing an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after buying an additional 2,223 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company’s stock worth $76,000 after buying an additional 1,087 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.