why Freshworks Inc. [FRSH] is a Good Choice for Investors After New Price Target of $23.42

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Freshworks Inc. [NASDAQ: FRSH] stock went on an upward path that rose over 1.73% on Wednesday, amounting to a one-week price decrease of less than -28.50%. The company report on June 9, 2022 that SURVEY: Nine in 10 Employees are Frustrated by their Workplace Technology.


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Freshworks survey of nearly 9,000 workers around the world reveals software crisis despite pandemic-driven tech spend surge.

Freshworks Inc., (NASDAQ: FRSH), a software company empowering the people who power business, today unveiled new research*, revealing that businesses globally face a potential workplace crisis due to inadequate technology, damaging employee productivity, mental health and the ability to retain talent. Despite the global shift to hybrid work igniting the biggest surge in technology investment in history, an overwhelming 91% of employees report being frustrated due to inadequate workplace technology.

The one-year Freshworks Inc. stock forecast points to a potential upside of 52.22. The average equity rating for FRSH stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.69 billion, with 278.19 million shares outstanding and 93.27 million shares in the current float. Compared to the average trading volume of 3.31M shares, FRSH stock reached a trading volume of 6316966 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Freshworks Inc. [FRSH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FRSH shares is $23.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FRSH stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Scotiabank have made an estimate for Freshworks Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on June 09, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on October 18, 2021, representing the official price target for Freshworks Inc. stock. Previously, the target price had yet another raise to $50, while Robert W. Baird analysts kept a Outperform rating on FRSH stock.

The Average True Range (ATR) for Freshworks Inc. is set at 1.43, with the Price to Sales ratio for FRSH stock in the period of the last 12 months amounting to 9.10. The Price to Book ratio for the last quarter was 2.80, with the Price to Cash per share for the same quarter was set at 3.64.

FRSH Stock Performance Analysis:

Freshworks Inc. [FRSH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.50. With this latest performance, FRSH shares dropped by -26.96% in over the last four-week period, additionally sinking by -53.68% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FRSH stock in for the last two-week period is set at 32.35, with the RSI for the last a single of trading hit 27.18, and the three-weeks RSI is set at 35.71 for Freshworks Inc. [FRSH]. The present Moving Average for the last 50 days of trading for this stock 16.09, while it was recorded at 12.04 for the last single week of trading.

Insight into Freshworks Inc. Fundamentals:

Freshworks Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.60 and a Current Ratio set at 5.60.

FRSH Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FRSH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Freshworks Inc. go to 30.00%.

Freshworks Inc. [FRSH] Insider Position Details

There are presently around $751 million, or 66.10% of FRSH stock, in the hands of institutional investors. The top three institutional holders of FRSH stocks are: WARD FERRY MANAGEMENT (BVI) LTD with ownership of 6,729,186, which is approximately 119.5% of the company’s market cap and around 0.60% of the total institutional ownership; STEADVIEW CAPITAL MANAGEMENT LLC, holding 6,063,870 shares of the stock with an approximate value of $66.7 million in FRSH stocks shares; and HOUND PARTNERS, LLC, currently with $45.06 million in FRSH stock with ownership of nearly New of the company’s market capitalization.

Positions in Freshworks Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 88 institutional holders increased their position in Freshworks Inc. [NASDAQ:FRSH] by around 28,883,723 shares. Additionally, 51 investors decreased positions by around 9,555,405 shares, while 10 investors held positions by with 29,840,971 shares. The mentioned changes placed institutional holdings at 68,280,099 shares, according to the latest SEC report filing. FRSH stock had 53 new institutional investments in for a total of 14,381,420 shares, while 30 institutional investors sold positions of 4,237,606 shares during the same period.

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