Freshworks (NASDAQ:FRSH) Earns Neutral Rating from Analysts at Credit Suisse Group

Credit Suisse Group started coverage on shares of Freshworks (NASDAQ:FRSHGet Rating) in a research report report published on Monday, The Fly reports. The brokerage issued a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. StockNews.com assumed coverage on shares of Freshworks in a report on Wednesday, October 12th. They issued a sell rating on the stock. JMP Securities dropped their price objective on shares of Freshworks from $29.00 to $23.00 and set a market outperform rating on the stock in a report on Wednesday, August 3rd. Morgan Stanley dropped their price objective on shares of Freshworks from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Wednesday, October 19th. Barclays lowered their target price on shares of Freshworks from $18.00 to $15.00 and set an equal weight rating on the stock in a research note on Tuesday, July 26th. Finally, Jefferies Financial Group lowered their target price on shares of Freshworks from $15.00 to $14.00 and set a hold rating on the stock in a research note on Monday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $17.77.

Freshworks Stock Performance

Shares of NASDAQ:FRSH opened at $12.75 on Monday. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -14.17 and a beta of 0.58. Freshworks has a 1-year low of $10.51 and a 1-year high of $38.06. The company’s fifty day moving average is $13.63 and its two-hundred day moving average is $13.92.

Insider Activity

In other Freshworks news, major shareholder Leaders 3 Gp Associates Accel acquired 200,800 shares of Freshworks stock in a transaction dated Friday, September 9th. The stock was bought at an average price of $14.55 per share, for a total transaction of $2,921,640.00. Following the transaction, the insider now owns 182,457 shares in the company, valued at approximately $2,654,749.35. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Leaders 3 Gp Associates Accel bought 200,800 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was bought at an average cost of $14.55 per share, for a total transaction of $2,921,640.00. Following the completion of the acquisition, the insider now directly owns 182,457 shares in the company, valued at approximately $2,654,749.35. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $14.91, for a total transaction of $69,853.35. Following the sale, the director now owns 15,940 shares of the company’s stock, valued at $237,665.40. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,626,690 shares of company stock worth $23,932,894 and sold 92,229 shares worth $1,277,450. Insiders own 29.12% of the company’s stock.

Hedge Funds Weigh In On Freshworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. abrdn plc bought a new position in Freshworks during the first quarter valued at approximately $283,000. Qube Research & Technologies Ltd bought a new position in Freshworks during the first quarter valued at approximately $395,000. Brown Advisory Inc. bought a new position in Freshworks during the first quarter valued at approximately $281,000. Principal Financial Group Inc. raised its position in Freshworks by 12.2% during the first quarter. Principal Financial Group Inc. now owns 373,446 shares of the company’s stock valued at $6,692,000 after acquiring an additional 40,726 shares in the last quarter. Finally, Gagnon Securities LLC raised its position in Freshworks by 45.4% during the first quarter. Gagnon Securities LLC now owns 373,488 shares of the company’s stock valued at $6,693,000 after acquiring an additional 116,584 shares in the last quarter. Institutional investors own 31.25% of the company’s stock.

About Freshworks

(Get Rating)

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

Featured Stories

The Fly logo

Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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.