Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 7,035 shares of the company's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total value of $127,192.80. Following the sale, the director now owns 19,991 shares in the company, valued at $361,437.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Freshworks Stock Performance
NASDAQ FRSH opened at $17.96 on Thursday. Freshworks Inc. has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The stock has a market cap of $5.35 billion, a P/E ratio of -38.21 and a beta of 0.90. The stock has a 50 day simple moving average of $19.52 and a two-hundred day simple moving average of $20.14.
Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. The business had revenue of $160.11 million for the quarter, compared to analysts' expectations of $158.11 million. Sell-side analysts predict that Freshworks Inc. will post -0.37 earnings per share for the current year.
Analyst Upgrades and Downgrades
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FRSH has been the topic of several research analyst reports. Piper Sandler upped their price target on shares of Freshworks from $24.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, January 2nd. Jefferies Financial Group upgraded shares of Freshworks from a "hold" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $30.00 in a research report on Friday, January 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $25.00 price target on shares of Freshworks in a research note on Wednesday, February 7th. JMP Securities increased their price target on shares of Freshworks from $25.00 to $29.00 and gave the stock a "market outperform" rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC lifted their price objective on shares of Freshworks from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 28th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.00.
Get Our Latest Research Report on Freshworks
Institutional Trading of Freshworks
Several large investors have recently added to or reduced their stakes in FRSH. Vanguard Group Inc. raised its position in Freshworks by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 19,816,514 shares of the company's stock worth $465,490,000 after acquiring an additional 1,285,713 shares during the period. BlackRock Inc. increased its position in Freshworks by 210.2% in the second quarter. BlackRock Inc. now owns 11,984,191 shares of the company's stock worth $210,682,000 after buying an additional 8,120,351 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Freshworks by 35.0% in the second quarter. Alliancebernstein L.P. now owns 4,794,336 shares of the company's stock worth $84,284,000 after buying an additional 1,243,205 shares during the period. Morgan Stanley lifted its position in shares of Freshworks by 38.7% during the 3rd quarter. Morgan Stanley now owns 3,988,906 shares of the company's stock valued at $79,459,000 after buying an additional 1,113,371 shares in the last quarter. Finally, State Street Corp raised its stake in Freshworks by 239.7% during the 2nd quarter. State Street Corp now owns 3,294,195 shares of the company's stock worth $57,912,000 after acquiring an additional 2,324,432 shares during the period. 75.58% of the stock is currently owned by institutional investors.
Freshworks Company Profile
(
Get Free Report)
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.
Further Reading
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