Jefferies Financial Group Issues Pessimistic Forecast for Freshworks (NASDAQ:FRSH) Stock Price

Freshworks (NASDAQ:FRSH) had its target price decreased by research analysts at Jefferies Financial Group from $22.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 44.23% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Oppenheimer raised their price target on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Robert W. Baird set a $18.00 target price on Freshworks in a research note on Wednesday, February 12th. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Scotiabank boosted their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Finally, JMP Securities set a $27.00 price target on Freshworks in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Trading Down 4.6 %

NASDAQ FRSH traded down $0.66 during trading on Monday, hitting $13.87. The company had a trading volume of 196,099 shares, compared to its average volume of 3,231,998. The company’s fifty day moving average is $16.92 and its 200-day moving average is $15.11. Freshworks has a one year low of $10.81 and a one year high of $19.77. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -43.33 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. As a group, equities analysts anticipate that Freshworks will post -0.19 EPS for the current year.

Insider Activity

In other news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the completion of the sale, the director now owns 24,187 shares in the company, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Johanna Flower sold 1,450 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the transaction, the director now directly owns 41,491 shares of the company’s stock, valued at $747,252.91. This trade represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,200 shares of company stock valued at $1,073,021. Corporate insiders own 19.15% of the company’s stock.

Institutional Trading of Freshworks

Several large investors have recently bought and sold shares of FRSH. Avion Wealth purchased a new stake in shares of Freshworks during the fourth quarter valued at $26,000. Point72 Hong Kong Ltd purchased a new position in Freshworks in the 3rd quarter valued at about $57,000. Blue Trust Inc. boosted its holdings in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after buying an additional 954 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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.