Freshworks Inc. (NASDAQ:FRSH) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given a consensus recommendation of “Hold” by the sixteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $19.2308.

FRSH has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Freshworks in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Freshworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Wells Fargo & Company started coverage on Freshworks in a report on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 target price on the stock. UBS Group restated a “buy” rating and set a $17.00 price target on shares of Freshworks in a report on Friday, November 14th. Finally, Wall Street Zen downgraded Freshworks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th.

Freshworks Stock Down 0.6%

NASDAQ FRSH opened at $12.25 on Friday. The business has a 50-day moving average price of $12.03 and a 200-day moving average price of $12.83. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -122.49 and a beta of 0.89. Freshworks has a twelve month low of $10.51 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Thursday, September 11th. The company reported $0.18 EPS for the quarter. Freshworks had a negative return on equity of 0.37% and a negative net margin of 3.65%.The company had revenue of $204.68 million for the quarter. Research analysts expect that Freshworks will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Tyler Sloat purchased 171,615 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $11.62 per share, with a total value of $1,994,166.30. Following the completion of the purchase, the insider directly owned 1,149,244 shares in the company, valued at $13,354,215.28. This trade represents a 17.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mika Yamamoto sold 15,012 shares of Freshworks stock in a transaction on Friday, December 5th. The stock was sold at an average price of $13.00, for a total transaction of $195,156.00. Following the completion of the transaction, the insider directly owned 490,350 shares of the company’s stock, valued at $6,374,550. The trade was a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,368 shares of company stock worth $283,335. Company insiders own 11.17% of the company’s stock.

Institutional Investors Weigh In On Freshworks

Several large investors have recently added to or reduced their stakes in FRSH. Tudor Investment Corp ET AL bought a new stake in shares of Freshworks during the third quarter valued at approximately $1,984,000. CIBC Bancorp USA Inc. purchased a new position in Freshworks during the 3rd quarter worth $252,000. Danske Bank A S bought a new stake in Freshworks during the 3rd quarter valued at $807,000. Oberweis Asset Management Inc. lifted its holdings in shares of Freshworks by 0.4% in the 3rd quarter. Oberweis Asset Management Inc. now owns 2,059,470 shares of the company’s stock worth $24,240,000 after buying an additional 8,650 shares during the period. Finally, PharVision Advisers LLC grew its position in shares of Freshworks by 66.7% during the 3rd quarter. PharVision Advisers LLC now owns 23,135 shares of the company’s stock worth $272,000 after buying an additional 9,253 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Freshworks Company Profile

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.