Freshworks (NASDAQ:FRSH) Given New $19.00 Price Target at Canaccord Genuity Group

Freshworks (NASDAQ:FRSH) had its target price upped by Canaccord Genuity Group from $17.00 to $19.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price target on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays reduced their price objective on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler upped their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Scotiabank cut their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.69.

Freshworks Price Performance

Shares of FRSH stock traded down $0.38 during trading hours on Thursday, reaching $16.44. 10,459,693 shares of the company traded hands, compared to its average volume of 3,578,957. The firm has a 50-day moving average price of $11.64 and a 200 day moving average price of $12.57. The company has a market cap of $4.97 billion, a P/E ratio of -48.35 and a beta of 0.72. Freshworks has a 12-month low of $10.81 and a 12-month high of $24.98.

Insider Buying and Selling at Freshworks

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

Hedge Funds Weigh In On Freshworks

A number of large investors have recently bought and sold shares of FRSH. Blue Trust Inc. grew its stake in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the period. CWM LLC grew its stake in Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after purchasing an additional 2,878 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares during the period. Finally, Quarry LP raised its position in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after purchasing an additional 2,645 shares in the last quarter. Hedge funds and other 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.