Oppenheimer Downgrades Freshworks (NASDAQ:FRSH) to Market Perform

Freshworks (NASDAQ:FRSH) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports.

A number of other brokerages have also recently commented on FRSH. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Freshworks in a research note on Wednesday, February 11th. Zacks Research lowered Freshworks from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citizens Jmp cut their target price on Freshworks from $27.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 11th. Wall Street Zen lowered shares of Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Cantor Fitzgerald lowered their price objective on shares of Freshworks from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.92.

Freshworks Price Performance

FRSH stock opened at $8.03 on Thursday. The company’s 50-day moving average is $9.08 and its 200-day moving average is $11.02. The stock has a market capitalization of $2.26 billion, a PE ratio of 12.55 and a beta of 0.93. Freshworks has a 1 year low of $6.79 and a 1 year high of $16.48.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 10th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Freshworks had a return on equity of 4.69% and a net margin of 21.90%.The business had revenue of $222.74 million during the quarter, compared to analyst estimates of $218.76 million. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Freshworks has set its Q1 2026 guidance at 0.100-0.120 EPS and its FY 2026 guidance at 0.550-0.570 EPS. On average, analysts anticipate that Freshworks will post -0.19 earnings per share for the current fiscal year.

Insider Activity at Freshworks

In other news, insider Mika Yamamoto sold 32,577 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $8.45, for a total value of $275,275.65. Following the completion of the sale, the insider directly owned 1,127,723 shares of the company’s stock, valued at $9,529,259.35. This represents a 2.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

Several institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. purchased a new stake in Freshworks in the 4th quarter valued at $31,967,000. Norges Bank purchased a new position in Freshworks during the 4th quarter worth $31,873,000. Eminence Capital LP boosted its holdings in Freshworks by 39.4% during the 2nd quarter. Eminence Capital LP now owns 7,334,601 shares of the company’s stock worth $109,359,000 after acquiring an additional 2,074,641 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Freshworks by 1,528.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,708,811 shares of the company’s stock worth $20,933,000 after acquiring an additional 1,603,887 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Freshworks by 132.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,790,166 shares of the company’s stock worth $32,840,000 after acquiring an additional 1,590,384 shares in 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.