Freshworks (NASDAQ:FRSH) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Freshworks (NASDAQ:FRSH) from a hold rating to a buy rating in a research note published on Saturday.

A number of other equities analysts have also recently weighed in on the stock. UBS Group increased their price objective on shares of Freshworks from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley cut their price objective on Freshworks from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Cantor Fitzgerald increased their target price on Freshworks from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Freshworks in a research report on Tuesday. Finally, Guggenheim began coverage on shares of Freshworks in a research report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.17.

Freshworks Stock Up 2.1%

NASDAQ:FRSH opened at $11.83 on Friday. Freshworks has a 52 week low of $6.79 and a 52 week high of $14.06. The stock’s fifty day moving average is $10.24 and its two-hundred day moving average is $9.20. The company has a market capitalization of $3.27 billion, a P/E ratio of 18.48 and a beta of 0.86.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $237.38 million during the quarter, compared to analysts’ expectations of $233.62 million. Freshworks had a return on equity of 5.52% and a net margin of 20.49%.The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. Freshworks has set its FY 2026 guidance at 0.660-0.680 EPS and its Q3 2026 guidance at 0.180-0.180 EPS. Sell-side analysts anticipate that Freshworks will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, CAO Philippa Lawrence sold 3,470 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $10.13, for a total value of $35,151.10. Following the sale, the chief accounting officer directly owned 456,144 shares of the company’s stock, valued at approximately $4,620,738.72. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Barry L. Padgett sold 6,618 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $10.49, for a total transaction of $69,422.82. Following the completion of the sale, the director owned 47,270 shares in the company, valued at $495,862.30. The trade was a 12.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,236 shares of company stock valued at $270,331 over the last 90 days. 8.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freshworks

Several large investors have recently bought and sold shares of FRSH. Balyasny Asset Management L.P. acquired a new stake in shares of Freshworks during the 4th quarter worth about $31,967,000. Norges Bank purchased a new position in Freshworks in the fourth quarter valued at approximately $31,873,000. Renaissance Technologies LLC raised its holdings in Freshworks by 79.1% during the first quarter. Renaissance Technologies LLC now owns 4,576,000 shares of the company’s stock worth $36,745,000 after purchasing an additional 2,021,412 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Freshworks by 1,528.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,708,811 shares of the company’s stock worth $20,933,000 after buying an additional 1,603,887 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Freshworks by 132.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,790,166 shares of the company’s stock worth $32,840,000 after buying an additional 1,590,384 shares during the last quarter. 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.