Shares of Freshworks Inc. (NASDAQ:FRSH – Get Free Report) have received an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.07.
A number of analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Freshworks to an “overweight” rating and set a $20.00 price objective for the company in a research report on Tuesday, June 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $22.00 price target (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Wells Fargo & Company raised their price target on Freshworks from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, April 30th. Morgan Stanley lifted their price objective on Freshworks from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Finally, Scotiabank boosted their price objective on Freshworks from $14.00 to $18.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th.
Read Our Latest Report on FRSH
Insider Activity at Freshworks
Hedge Funds Weigh In On Freshworks
Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of Freshworks by 18.1% in the 1st quarter. Rhumbline Advisers now owns 325,704 shares of the company’s stock valued at $4,596,000 after purchasing an additional 49,873 shares during the period. Strs Ohio bought a new position in shares of Freshworks during the first quarter worth about $830,000. Diker Management LLC raised its position in Freshworks by 4.3% in the 1st quarter. Diker Management LLC now owns 120,526 shares of the company’s stock valued at $1,701,000 after buying an additional 5,000 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Freshworks in the 1st quarter valued at approximately $2,734,000. Finally, Intech Investment Management LLC lifted its stake in Freshworks by 40.9% in the 1st quarter. Intech Investment Management LLC now owns 154,170 shares of the company’s stock valued at $2,175,000 after acquiring an additional 44,761 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.
Freshworks Stock Performance
Shares of FRSH opened at $14.93 on Monday. The stock has a fifty day moving average price of $14.51 and a two-hundred day moving average price of $15.66. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -62.21 and a beta of 0.97. Freshworks has a 52-week low of $10.81 and a 52-week high of $19.77.
Freshworks (NASDAQ:FRSH – Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The business had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, research analysts predict that Freshworks will post -0.19 EPS for the current fiscal year.
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.
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