Freshworks (NASDAQ:FRSH) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Freshworks (NASDAQ:FRSH) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company started coverage on shares of Freshworks in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $27.00 target price on shares of Freshworks in a report on Friday, September 12th. Canaccord Genuity Group decreased their price target on Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. BTIG Research began coverage on Freshworks in a report on Tuesday. They set a “neutral” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating on shares of Freshworks in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Freshworks has a consensus rating of “Hold” and an average target price of $19.23.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $12.53 on Friday. The business has a 50 day simple moving average of $11.82 and a 200 day simple moving average of $13.02. Freshworks has a 52 week low of $10.51 and a 52 week high of $19.77. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -125.29 and a beta of 0.89.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Thursday, September 11th. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $204.68 million for the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. On average, analysts predict that Freshworks will post -0.19 EPS for the current year.

Insider Transactions at Freshworks

In other Freshworks news, insider Tyler Sloat acquired 171,615 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was bought at an average price of $11.62 per share, for a total transaction of $1,994,166.30. Following the purchase, the insider owned 1,149,244 shares in the company, valued at $13,354,215.28. This represents a 17.55% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mika Yamamoto sold 15,012 shares of Freshworks stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $13.00, for a total transaction of $195,156.00. Following the sale, the insider owned 490,350 shares in the company, valued at approximately $6,374,550. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,368 shares of company stock valued at $283,335. Company insiders own 11.17% of the company’s stock.

Institutional Investors Weigh In On Freshworks

Institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Freshworks in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in Freshworks in the 3rd quarter valued at $27,000. Rothschild Investment LLC boosted its stake in Freshworks by 560.0% in the 3rd quarter. Rothschild Investment LLC now owns 2,277 shares of the company’s stock valued at $27,000 after buying an additional 1,932 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Freshworks by 136.2% in the third quarter. SBI Securities Co. Ltd. now owns 2,745 shares of the company’s stock valued at $32,000 after acquiring an additional 1,583 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Freshworks during the third quarter worth $67,000. 75.58% of the stock is owned by institutional investors and hedge funds.

About Freshworks

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.