Freshworks Inc. (NASDAQ:FRSH – Get Free Report)’s share price gapped down before the market opened on Thursday after Piper Sandler lowered their price target on the stock from $28.00 to $22.00. The stock had previously closed at $18.25, but opened at $13.40. Piper Sandler currently has an overweight rating on the stock. Freshworks shares last traded at $13.60, with a volume of 6,525,174 shares.
FRSH has been the topic of several other research reports. Oppenheimer downgraded Freshworks from an “outperform” rating to a “market perform” rating in a research note on Thursday. Wolfe Research upgraded Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a report on Tuesday, February 20th. Jefferies Financial Group upgraded Freshworks from a “hold” rating to a “buy” rating and increased their target price for the stock from $20.00 to $30.00 in a report on Friday, January 5th. JMP Securities increased their target price on Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Freshworks in a report on Wednesday, February 7th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.24.
Check Out Our Latest Stock Analysis on FRSH
Insider Activity
Institutional Investors Weigh In On Freshworks
Several hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in Freshworks during the first quarter worth approximately $685,000. Allspring Global Investments Holdings LLC lifted its position in Freshworks by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after acquiring an additional 1,160 shares during the last quarter. Steph & Co. acquired a new stake in Freshworks during the first quarter worth approximately $201,000. Renaissance Capital LLC lifted its position in Freshworks by 3.0% during the first quarter. Renaissance Capital LLC now owns 105,697 shares of the company’s stock worth $1,925,000 after acquiring an additional 3,071 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Freshworks by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 19,816,514 shares of the company’s stock valued at $465,490,000 after buying an additional 1,285,713 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.
Freshworks Price Performance
The business’s 50-day moving average price is $18.53 and its two-hundred day moving average price is $20.04. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -29.51 and a beta of 0.87.
Freshworks (NASDAQ:FRSH – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $160.11 million for the quarter, compared to analysts’ expectations of $158.11 million. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. As a group, research analysts predict that Freshworks Inc. will post -0.37 EPS for the current 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.
Recommended Stories
- Five stocks we like better than Freshworks
- What Do S&P 500 Stocks Tell Investors About the Market?
- Meta Stock: 3 Reasons This Stumble Is a Golden Buying Opportunity
- What is Forex and How Does it Work?
- 3 Staples Stocks to Cushion Lower Consumer Sentiment
- Quiet Period Expirations Explained
- Zillow’s Earnings Dip: An Opportunity for Visionaries
Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.