Analysts Set Freshworks Inc. (NASDAQ:FRSH) Price Target at $18.69

Shares of Freshworks Inc. (NASDAQ:FRSH) have been given an average rating of “Moderate Buy” by the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.69.

A number of equities research analysts recently commented on FRSH shares. JPMorgan Chase & Co. upped their price target on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird dropped their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. JMP Securities boosted their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group boosted their target price on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Freshworks Stock Up 0.7 %

Freshworks stock opened at $16.10 on Thursday. The firm has a fifty day simple moving average of $13.14 and a two-hundred day simple moving average of $12.61. Freshworks has a twelve month low of $10.81 and a twelve month high of $24.98. The company has a market capitalization of $4.88 billion, a PE ratio of -47.35 and a beta of 0.72.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the sale, the director now owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now directly owns 23,497 shares in the company, valued at $259,406.88. This trade represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,250 shares of company stock worth $300,201 in the last three months. 19.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in shares of Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after purchasing an additional 189,616 shares during the period. Sei Investments Co. boosted its holdings in Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after buying an additional 63,006 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Freshworks by 806.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after buying an additional 209,194 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Freshworks in the third quarter valued at about $867,000. Finally, M&G PLC purchased a new position in shares of Freshworks in the third quarter valued at about $9,094,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

About Freshworks

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.