Freshworks Inc. (NASDAQ:FRSH) shares traded 2.34% higher at $21.89 on Wall Street last session.
In accordance with the data, 18 analysts cover Freshworks Inc. (NASDAQ:FRSH). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $27.00 and a low of $19.00, we find $23.00. Given the previous closing price of $21.39, this indicates a potential upside of 7.53 percent. FRSH stock price is now 15.75% away from the 50-day moving average and 38.29% away from the 200-day moving average. The market capitalization of the company currently stands at $6.28B.
It has been rated a hold by 8 analysts and a buy by 9. Brokers who have rated the stock have averaged $22.94 as their price target over the next twelve months.
With the price target enhanced from $15 to $25, Canaccord Genuity Upgraded its rating from Hold to Buy for Freshworks Inc. (NASDAQ: FRSH).
In other news, PADGETT BARRY L., Director sold 6,566 shares of the company’s stock on Aug 30. The stock was sold for $142,023 at an average price of $21.63. Upon completion of the transaction, the Director now directly owns 17,387 shares in the company, valued at $0.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, Director Taylor Jennifer H sold 7,028 shares of the business’s stock. A total of $157,006 was realized by selling the stock at an average price of $22.34. This leaves the insider owning 25,836 shares of the company worth $0.57 million. Insiders disposed of 11,323,783 shares of company stock worth roughly $247.88 million over the past 1 year. A total of 1.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FRSH stock. A new stake in Freshworks Inc. shares was purchased by NUVEEN ASSET MANAGEMENT, LLC during the first quarter worth $22,602,000. FACT CAPITAL, LP invested $14,617,000 in shares of FRSH during the first quarter. In the first quarter, ADAGE CAPITAL PARTNERS GP, L.L.C. acquired a new stake in Freshworks Inc. valued at approximately $8,209,000. RHUMBLINE ADVISERS acquired a new stake in FRSH for approximately $4,657,000. TRIKON ASSET MANAGEMENT LTD purchased a new stake in FRSH valued at around $3,853,000 in the second quarter. In total, there are 241 active investors with 73.10% ownership of the company’s stock.
During the past 12 months, Freshworks Inc. has had a low of $11.92 and a high of $23.09. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.50, and a quick ratio of 4.50. The fifty day moving average price for FRSH is $19.01 and a two-hundred day moving average price translates $15.87 for the stock.
The latest earnings results from Freshworks Inc. (NASDAQ: FRSH) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at $0.07, beating analysts’ expectations of $0.02 by 0.05. This compares to -$0.25 EPS in the same period last year. The net profit margin was -35.20% and return on equity was -18.20% for FRSH. The company reported revenue of $145.08 million for the quarter, compared to $121.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.47 percent. For the current quarter, analysts expect FRSH to generate $150.7M in revenue.
Freshworks Inc.(FRSH) Company Profile
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. The company also provides Freshchat, which provides agents with a modern conversational user interface to engage with their customers across web, mobile, and social messaging applications; Freshsales that offers a multi-tiered approach to automating sales workflow and processes, as well as configure-price-quote functionality to quickly create quotes and AI-driven pipeline management; and Freshsales Suite, which delivers a single unified sales and marketing solution that allows businesses to engage and track customers across their buying journey. In addition, the company offers Freshservice, an intuitive service management solution; Freshping, a solution to monitor website’s availability and get multichannel alerts; Freshstatus that allows businesses to create a custom branded website status page for internal or external viewing to communicate website uptime and availability; and Freshsurvey, a tool to measure NPS and other satisfaction metrics. The company was formerly known as Freshdesk Inc. and changed its name to Freshworks Inc. in June 2017. Freshworks Inc. was incorporated in 2010 and is headquartered in San Mateo, California.
