Freshworks (NASDAQ:FRSH) Price Target Lowered to $15.00 at Barclays

Freshworks (NASDAQ:FRSH) had its price objective decreased by Barclays from $20.00 to $15.00 in a research note released on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a buy rating and issued a $30.00 price objective on shares of Freshworks in a report on Thursday. Robert W. Baird lowered Freshworks from an outperform rating to a neutral rating and dropped their price target for the stock from $28.00 to $16.00 in a research note on Thursday. Wolfe Research raised shares of Freshworks from a peer perform rating to an outperform rating and set a $27.00 price objective on the stock in a research report on Tuesday, February 20th. Cantor Fitzgerald dropped their target price on shares of Freshworks from $25.00 to $19.00 and set an overweight rating for the company in a research report on Thursday. Finally, Jefferies Financial Group upgraded shares of Freshworks from a hold rating to a buy rating and boosted their price target for the company from $20.00 to $30.00 in a research report on Friday, January 5th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $22.59.

Freshworks Trading Down 4.4 %

Shares of NASDAQ:FRSH traded down $0.64 during trading on Friday, reaching $14.03. 6,974,887 shares of the company traded hands, compared to its average volume of 3,264,107. Freshworks has a 52-week low of $12.22 and a 52-week high of $24.98. The business’s fifty day moving average is $18.29 and its 200-day moving average is $19.97. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -35.07 and a beta of 0.88.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $160.11 million for the quarter, compared to analyst estimates of $158.11 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. On average, sell-side analysts predict that Freshworks will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Freshworks

In other news, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the transaction, the director now owns 19,991 shares of the company’s stock, valued at approximately $361,437.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total transaction of $127,192.80. Following the completion of the sale, the director now owns 19,991 shares of the company’s stock, valued at $361,437.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johanna Flower sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $19.05, for a total value of $91,440.00. Following the completion of the transaction, the director now directly owns 23,451 shares in the company, valued at $446,741.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 460,792 shares of company stock valued at $9,408,403. Insiders own 19.15% of the company’s stock.

Institutional Investors Weigh In On Freshworks

Several institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in Freshworks in the 3rd quarter worth about $81,000. Quest Partners LLC bought a new stake in shares of Freshworks in the fourth quarter worth approximately $166,000. Northside Capital Management LLC purchased a new position in shares of Freshworks during the fourth quarter valued at approximately $226,000. Xponance Inc. bought a new position in Freshworks during the fourth quarter valued at approximately $231,000. Finally, Jasper Ridge Partners L.P. purchased a new stake in Freshworks in the third quarter worth approximately $217,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

About Freshworks

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.