Freshworks Inc. (NASDAQ: FRSH) has been assigned a consensus "Hold" rating by thirteen analysts currently covering the company, according to MarketBeat Ratings. Among them, one analyst has issued a "sell" recommendation, five have suggested "hold," and seven analysts are confident in the stock with a "buy" rating. The average 12-month price target for the company, based on reports from brokers over the past year, is $21.14.
In recent analyst updates, Robert W. Baird set a price target of $18.00 for Freshworks shares on February 12th, while Oppenheimer raised their price estimate from $22.00 to $24.00, citing an "outperform" rating. UBS Group also set their target price at $22.00 on February 6th. Cantor Fitzgerald revised their target price from $18.00 to $22.00 and gave the stock an "overweight" rating on February 12th. However, Jefferies Financial Group lowered their price target from $22.00 to $20.00 while maintaining a "hold" rating for the company.
As of Wednesday, Freshworks opened at $14.33. The company’s 50-day moving average stands at $16.79, and its 200-day moving average is $15.15. Over the past 12 months, Freshworks has seen a low of $10.81 and a high of $19.77. The company’s market cap currently stands at $4.32 billion, with a price-to-earnings ratio of -44.78 and a beta of 0.92.
Freshworks reported its quarterly earnings on February 11th, revealing a loss of $0.02 per share, falling short of analysts' expectations by $0.10. The company posted a negative return on equity of 6.63% and a net margin of -13.24%. Analysts predict that Freshworks will post an EPS of -0.19 for the current fiscal year.
In other news, Director Jennifer H. Taylor sold 4,685 shares on January 10th for $72,570.65, lowering her stake in the company by 11.16%. Following the sale, Taylor retains 37,286 shares, valued at approximately $577,560.14. On February 20th, another director, Johanna Flower, sold 1,450 shares for $26,114.50. After the transaction, Flower holds 41,491 shares, worth around $747,252.91. Over the past three months, insiders have sold 62,980 shares worth $1,084,011, which represents 19.15% of the company’s stock currently owned by insiders.
Several institutional investors and hedge funds have recently increased or reduced their holdings in Freshworks. Polar Asset Management Partners acquired a new position in the company, purchasing shares worth approximately $5.05 million during the fourth quarter. Meanwhile, JT Stratford LLC boosted its holdings by 41.6%, adding 5,917 shares. UBS AM, a business unit of UBS Asset Management Americas, raised its position by 19.6%, now holding 370,676 shares valued at $5.99 million. Overall, institutional investors and hedge funds own 75.58% of the company's stock.
Freshworks Inc. offers a range of software-as-a-service (SaaS) products, including its Freshworks Customer Service Suite, which provides automated self-service across multiple channels, including web, chat, mobile messaging, email, and social platforms. The company also offers Freshdesk, a ticketing-based customer service solution, Freshsuccess for customer success management, and Freshchat, which enables agents to engage customers across digital messaging channels.