Freshworks (NASDAQ:FRSH) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Freshworks (NASDAQ:FRSHFree Report) in a report issued on Wednesday morning, Benzinga reports. They currently have a $25.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Freshworks from $25.00 to $30.00 and gave the stock a buy rating in a research note on Thursday, December 28th. UBS Group reduced their price objective on shares of Freshworks from $27.00 to $22.00 and set a buy rating for the company in a research note on Thursday, November 2nd. Piper Sandler boosted their price objective on shares of Freshworks from $24.00 to $28.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. Barclays cut their price target on shares of Freshworks from $25.00 to $20.00 and set an equal weight rating on the stock in a report on Wednesday, November 1st. Finally, Morgan Stanley cut their price target on shares of Freshworks from $24.00 to $22.00 and set an equal weight rating on the stock in a report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Freshworks has a consensus rating of Moderate Buy and a consensus target price of $24.88.

Get Our Latest Analysis on FRSH

Freshworks Stock Performance

Freshworks stock opened at $21.15 on Wednesday. The company has a market capitalization of $6.25 billion, a PE ratio of -37.11 and a beta of 0.99. Freshworks has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The company has a 50 day moving average price of $22.43 and a 200-day moving average price of $20.63.

Insiders Place Their Bets

In related news, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $20.10, for a total transaction of $126,690.30. Following the completion of the transaction, the director now owns 100,410 shares in the company, valued at approximately $2,018,241. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Freshworks news, insider Srinivasagopalan Ramamurthy sold 175,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $24.02, for a total transaction of $4,203,500.00. Following the transaction, the insider now directly owns 585,188 shares in the company, valued at $14,056,215.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $20.10, for a total value of $126,690.30. Following the transaction, the director now owns 100,410 shares in the company, valued at $2,018,241. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,286 shares of company stock worth $5,046,906. Company insiders own 26.66% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FRSH. Bank of New York Mellon Corp raised its stake in shares of Freshworks by 3,770.9% in the first quarter. Bank of New York Mellon Corp now owns 597,595 shares of the company’s stock valued at $10,709,000 after acquiring an additional 582,157 shares in the last quarter. US Bancorp DE raised its stake in shares of Freshworks by 1,141.4% in the first quarter. US Bancorp DE now owns 8,044 shares of the company’s stock valued at $144,000 after acquiring an additional 7,396 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of Freshworks in the first quarter valued at $255,000. Cibc World Market Inc. acquired a new stake in shares of Freshworks in the first quarter valued at $887,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Freshworks in the first quarter valued at $267,000. 57.35% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Company Profile

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Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. It offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, and modern channels, such as messaging and social media; Freshdesk Contact Center that offers agents with cloud-based telephony system to connect with customers that supports complex call-flows, number and call management, IVR, and routing needs, as well as live dashboard and reports; and Freshdesk Customer Success, which helps customer success managers at business to business (B2B) subscription companies.

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Analyst Recommendations for Freshworks (NASDAQ:FRSH)

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