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Jennifer Taylor, a director at Freshworks Inc . (NASDAQ:FRSH), reported selling 4,690 shares of the company’s Class A common stock on April 10. The shares were sold at a weighted average price of $12.60 each, amounting to a total transaction value of $59,094. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on February 28, 2024. While the stock has faced recent headwinds, 10 analysts have revised their earnings estimates upward for the upcoming period.
Following this transaction, Taylor holds 37,895 shares of Freshworks’ Class A common stock. Additionally, she was involved in several other transactions on the same day, including the acquisition of 4,690 shares through a conversion of Class B common stock and the acquisition of 9,380 shares through the exercise of restricted stock units, both at no cost. These transactions reflect her ongoing involvement and stake in the company.
In other recent news, Freshworks Inc has been the subject of various analyst assessments and strategic developments. Piper Sandler raised its price target for Freshworks to $24, highlighting the company’s strong financial performance, with the Experience segment achieving over $400 million in annual recurring revenue. Cantor Fitzgerald increased its target to $22, noting Freshworks’ strategic moves towards mid-market and enterprise customers, which now account for over 60% of its annual recurring revenue. Meanwhile, Needham maintained its $25 price target, expressing confidence in Freshworks’ expansion into Enterprise Service Management sectors and its strategic initiatives.
Oppenheimer adjusted its target to $19, citing market challenges and a conservative outlook for Freshworks’ customer experience business. Scotiabank (TSX:BNS) also revised its target to $19, acknowledging modestly surpassing financial outlooks for FY25 and the potential for growth in the customer experience segment. Analysts have noted Freshworks’ advancements in artificial intelligence, particularly with Freddy AI, as a promising area for future growth. The company’s partnership with Klarna and the introduction of Freshcaller were also mentioned as strategic moves to enhance market position. These developments reflect varied but generally positive sentiment from analysts regarding Freshworks’ growth potential and strategic direction.
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