Freshworks (NASDAQ:FRSH) Shares Up 6.7% – Here’s What Happened

Shares of Freshworks Inc. (NASDAQ:FRSH) traded up 6.7% during mid-day trading on Friday . The stock traded as high as $8.95 and last traded at $8.9850. 6,304,330 shares were traded during mid-day trading, a decline of 15% from the average session volume of 7,447,158 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird set a $10.00 target price on Freshworks in a research note on Wednesday, February 11th. Jefferies Financial Group lowered shares of Freshworks from a “buy” rating to a “hold” rating and dropped their target price for the company from $20.00 to $8.00 in a report on Monday, February 23rd. Morgan Stanley dropped their price target on Freshworks from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday. Canaccord Genuity Group set a $14.00 price target on Freshworks in a research note on Wednesday, February 11th. Finally, UBS Group set a $11.00 price objective on Freshworks in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.18.

Freshworks Trading Up 5.9%

The company has a market capitalization of $2.46 billion, a PE ratio of 14.36 and a beta of 0.83. The stock’s fifty day moving average is $8.28 and its two-hundred day moving average is $10.02.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Freshworks had a net margin of 20.69% and a return on equity of 4.27%. The firm had revenue of $228.63 million during the quarter, compared to the consensus estimate of $223.64 million. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. Freshworks has set its FY 2026 guidance at 0.610-0.630 EPS and its Q2 2026 guidance at 0.130-0.130 EPS. As a group, analysts anticipate that Freshworks Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity at Freshworks

In related news, insider Mika Yamamoto sold 32,577 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $8.45, for a total value of $275,275.65. Following the completion of the transaction, the insider directly owned 1,127,723 shares of the company’s stock, valued at approximately $9,529,259.35. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FRSH. Lombard Odier Asset Management USA Corp purchased a new position in shares of Freshworks during the first quarter worth about $200,000. Entropy Technologies LP bought a new stake in Freshworks in the first quarter worth $511,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Freshworks by 403.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,444,124 shares of the company’s stock valued at $11,596,000 after buying an additional 1,157,277 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Freshworks by 79.1% in the first quarter. Renaissance Technologies LLC now owns 4,576,000 shares of the company’s stock worth $36,745,000 after buying an additional 2,021,412 shares during the period. Finally, Oak Associates Ltd. OH purchased a new stake in Freshworks during the 1st quarter valued at about $127,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Company Profile

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.