Freshworks (NASDAQ:FRSH) Price Target Raised to $20.00 at JPMorgan Chase & Co.

Freshworks (NASDAQ:FRSH) had its price target raised by JPMorgan Chase & Co. from $17.00 to $20.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also commented on FRSH. Canaccord Genuity Group increased their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank reduced their price target on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald lowered their price objective on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays reduced their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, JMP Securities upped their target price on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Freshworks Trading Down 2.3 %

Shares of Freshworks stock traded down $0.38 on Thursday, reaching $16.44. 9,375,092 shares of the company were exchanged, compared to its average volume of 2,787,160. Freshworks has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -49.47 and a beta of 0.72. The stock has a fifty day moving average price of $11.55 and a 200-day moving average price of $12.63.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The firm had revenue of $186.58 million for the quarter, compared to the consensus estimate of $181.50 million. On average, equities analysts anticipate that Freshworks will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the sale, the director now owns 23,497 shares in the company, valued at $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the transaction, the director now owns 23,497 shares in the company, valued at $286,428.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the sale, the director now directly owns 35,853 shares in the company, valued at $400,478.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,153 shares of company stock worth $459,383. Company insiders own 19.15% of the company’s stock.

Institutional Investors Weigh In On Freshworks

A number of hedge funds and other institutional investors have recently bought and sold shares of FRSH. Vanguard Group Inc. grew its holdings in shares of Freshworks by 6.8% during the first quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after purchasing an additional 1,354,530 shares during the last quarter. Sei Investments Co. increased its position in Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after acquiring an additional 63,006 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Freshworks by 8.5% in the first quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock worth $530,000 after acquiring an additional 2,293 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Freshworks during the second quarter worth approximately $1,740,000. Finally, M&G PLC bought a new stake in shares of Freshworks during the third quarter valued at approximately $9,094,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Company Profile

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.