Wolfe Research lifts Freshworks Inc [FRSH] price estimate. Who else is bullish?

Freshworks Inc [NASDAQ: FRSH] gained 2.11% or 0.38 points to close at $18.35 with a heavy trading volume of 4092704 shares. The company report on February 28, 2024 at 8:00 AM that Freshworks to Participate in Upcoming Investor Conferences.

Freshworks Inc., (NASDAQ: FRSH) today announced participation in the following events:.

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JMP Securities Technology Conference: Tyler Sloat, Chief Financial Officer, is scheduled to participate in a fireside chat on Tuesday, March 5, 2024 at 8:30 a.m. Pacific Time (11:30 a.m. Eastern Time).

The daily chart for FRSH points out that the company has recorded -7.74% loss over the past six months.

If we look at the average trading volume of 2.56M shares, FRSH reached to a volume of 4092704 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $26.19 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 1.67. 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.

Wolfe Research have made an estimate for Freshworks Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 20, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price from $20 to $30. The new note on the price target was released on January 05, 2024, representing the official price target for Freshworks Inc stock. Previously, the target price had yet another raise from $25 to $30, while Needham kept a Buy rating on FRSH stock. On August 02, 2023, analysts increased their price target for FRSH shares from 15 to 25.

The Average True Range (ATR) for Freshworks Inc is set at 0.76, with the Price to Sales ratio for FRSH stock in the period of the last 12 months amounting to 9.13. The Price to Book ratio for the last quarter was 5.08, with the Price to Cash per share for the same quarter was set at 4.00. Price to Free Cash Flow for FRSH in the course of the last twelve months was 69.94 with Quick ratio for the last quarter at 4.07.

Trading performance analysis for FRSH stock

Freshworks Inc [FRSH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.66. With this latest performance, FRSH shares dropped by -11.31% in over the last four-week period, additionally sinking by -7.74% over the last 6 months – not to mention a rise of 33.65% in the past year of trading.

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 38.09, with the RSI for the last a single of trading hit 39.08, and the three-weeks RSI is set at 39.24 for Freshworks Inc [FRSH]. The present Moving Average for the last 50 days of trading for this stock 20.95, while it was recorded at 18.17 for the last single week of trading, and 19.81 for the last 200 days.

Freshworks Inc [FRSH]: A deeper dive into fundamental analysis

Freshworks Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.07 and a Current Ratio set at 4.07.

Freshworks Inc [FRSH]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Freshworks Inc posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 250.00%. 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%.

An analysis of Institutional ownership at Freshworks Inc [FRSH]

The top three institutional holders of FRSH stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FRSH stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FRSH stock with ownership which is approximately 5.8325%.