Robert W. Baird Has Lowered Expectations for Freshworks (NASDAQ:FRSH) Stock Price

Freshworks (NASDAQ:FRSH) had its target price cut by stock analysts at Robert W. Baird from $18.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 27.00% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Freshworks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 23rd. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Freshworks in a report on Friday. Morgan Stanley cut their price objective on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Freshworks in a research report on Friday. Finally, Piper Sandler upped their target price on shares of Freshworks from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Freshworks Stock Up 1.2%

FRSH traded up $0.15 during trading on Monday, hitting $12.60. The company’s stock had a trading volume of 585,839 shares, compared to its average volume of 3,759,892. The business’s 50 day simple moving average is $13.57 and its 200-day simple moving average is $14.27. The firm has a market cap of $3.67 billion, a PE ratio of -70.08 and a beta of 0.94. Freshworks has a one year low of $10.81 and a one year high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The firm had revenue of $204.68 million during the quarter, compared to the consensus estimate of $198.85 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. Equities research analysts expect that Freshworks will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $13.14, for a total transaction of $110,809.62. Following the transaction, the director owned 38,870 shares of the company’s stock, valued at approximately $510,751.80. This represents a 17.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 7,558 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the completion of the sale, the director directly owned 44,218 shares of the company’s stock, valued at approximately $669,018.34. This trade represents a 14.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,181 shares of company stock valued at $1,107,538 over the last 90 days. 11.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Freshworks

A number of large investors have recently bought and sold shares of FRSH. Ameriprise Financial Inc. lifted its holdings in Freshworks by 34.9% during the fourth quarter. Ameriprise Financial Inc. now owns 369,370 shares of the company’s stock worth $5,973,000 after buying an additional 95,463 shares during the period. Cetera Investment Advisers bought a new position in shares of Freshworks in the 4th quarter worth $190,000. Focus Partners Wealth purchased a new stake in shares of Freshworks during the 4th quarter worth $167,000. Janus Henderson Group PLC boosted its position in Freshworks by 10.0% during the fourth quarter. Janus Henderson Group PLC now owns 80,501 shares of the company’s stock valued at $1,302,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Freshworks by 47.4% in the fourth quarter. Nuveen Asset Management LLC now owns 779,423 shares of the company’s stock valued at $12,603,000 after purchasing an additional 250,622 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

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.