Weekly Research Analysts’ Ratings Changes for Freshworks (FRSH)

Several brokerages have updated their recommendations and price targets on shares of Freshworks (NASDAQ: FRSH) in the last few weeks:

• 11/7/2024 – Freshworks had its price target raised by analysts at JPMorgan Chase & Co. from $17.00 to $20.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Freshworks had its price target raised by analysts at Piper Sandler from $13.00 to $18.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Freshworks had its price target lowered by analysts at Robert W. Baird from $16.00 to $15.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Freshworks had its price target raised by analysts at JMP Securities from $21.00 to $24.00. They now have a “market outperform” rating on the stock.
• 11/7/2024 – Freshworks had its price target raised by analysts at Wells Fargo & Company from $11.00 to $14.00. They now have an “equal weight” rating on the stock.
• 11/7/2024 – Freshworks had its price target raised by analysts at Canaccord Genuity Group Inc. from $17.00 to $19.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Freshworks had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $20.00 price target on the stock.
• 10/16/2024 – Freshworks is now covered by analysts at Wells Fargo & Company. They set an “equal weight” rating and a $11.00 price target on the stock.
• 10/10/2024 – Freshworks had its price target lowered by analysts at Piper Sandler from $17.00 to $13.00. They now have an “overweight” rating on the stock.

Freshworks Price Performance

Shares of FRSH opened at $16.54 on Monday. The firm has a 50 day simple moving average of $12.56 and a two-hundred day simple moving average of $12.52. The company has a market cap of $5.01 billion, a P/E ratio of -48.65 and a beta of 0.72. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the transaction, the director now directly owns 35,853 shares in the company, valued at approximately $400,478.01. This represents a 11.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the sale, the director now directly owns 23,497 shares in the company, valued at approximately $259,406.88. This represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,463 shares of company stock valued at $406,714. 19.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after acquiring an additional 1,354,530 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after buying an additional 757 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of Freshworks by 403.3% during the 1st quarter. Quadrature Capital Ltd now owns 67,473 shares of the company’s stock worth $1,227,000 after buying an additional 54,068 shares in the last quarter. Bayesian Capital Management LP grew its position in shares of Freshworks by 83.1% during the 1st quarter. Bayesian Capital Management LP now owns 72,507 shares of the company’s stock worth $1,320,000 after buying an additional 32,900 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Freshworks by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after buying an additional 831 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

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.