Wells Fargo & Company Cuts Freshworks (NASDAQ:FRSH) Price Target to $10.00

Freshworks (NASDAQ:FRSH) had its target price cut by Wells Fargo & Company from $13.00 to $10.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald cut their price objective on Freshworks from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday. Wall Street Zen downgraded Freshworks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 20th. Robert W. Baird set a $10.00 price objective on Freshworks in a research report on Wednesday. Citigroup restated an “outperform” rating on shares of Freshworks in a research note on Wednesday. Finally, Canaccord Genuity Group set a $14.00 target price on shares of Freshworks in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.92.

Freshworks Stock Up 2.8%

Shares of FRSH stock opened at $7.24 on Wednesday. Freshworks has a 12 month low of $6.79 and a 12 month high of $18.17. The company has a market cap of $2.04 billion, a PE ratio of 11.31 and a beta of 0.89. The business’s 50 day moving average is $11.34 and its two-hundred day moving average is $11.94.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Freshworks had a net margin of 21.90% and a return on equity of 4.77%. The business had revenue of $222.74 million during the quarter, compared to analysts’ expectations of $218.76 million. During the same period in the previous year, the company earned $0.14 earnings per share. Freshworks’s revenue for the quarter was up 14.5% on a year-over-year basis. Freshworks has set its Q1 2026 guidance at 0.100-0.120 EPS and its FY 2026 guidance at 0.550-0.570 EPS. As a group, equities analysts expect that Freshworks will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshworks news, insider Mika Yamamoto sold 15,012 shares of Freshworks stock in a transaction on Friday, December 5th. The shares were sold at an average price of $13.00, for a total transaction of $195,156.00. Following the sale, the insider owned 490,350 shares in the company, valued at $6,374,550. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Philippa Lawrence sold 5,846 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $12.06, for a total transaction of $70,502.76. Following the completion of the transaction, the chief accounting officer owned 392,711 shares of the company’s stock, valued at approximately $4,736,094.66. This represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,267 shares of company stock worth $282,301 in the last quarter. Corporate insiders own 11.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. Royal Bank of Canada boosted its holdings in shares of Freshworks by 120.8% in the 1st quarter. Royal Bank of Canada now owns 21,388 shares of the company’s stock worth $302,000 after acquiring an additional 11,703 shares in the last quarter. Amundi raised its position in Freshworks by 1.3% in the 1st quarter. Amundi now owns 80,074 shares of the company’s stock valued at $1,049,000 after purchasing an additional 1,040 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Freshworks by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,056 shares of the company’s stock worth $31,396,000 after purchasing an additional 578,628 shares in the last quarter. Woodline Partners LP boosted its stake in Freshworks by 13.5% in the first quarter. Woodline Partners LP now owns 21,569 shares of the company’s stock worth $304,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Freshworks by 20.2% during the first quarter. Focus Partners Wealth now owns 12,399 shares of the company’s stock worth $175,000 after purchasing an additional 2,086 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

About Freshworks

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.