Freshworks Inc. (NASDAQ:FRSH) closed Tuesday at $13.95 per share, up from $13.47 a day earlier. While Freshworks Inc. has overperformed by 3.56%, investors are advised to look at stock chart patterns for technical insight.
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On June 09, 2022, Scotiabank started tracking Freshworks Inc. (NASDAQ: FRSH) recommending Sector Perform. A report published by Wolfe Research on October 18, 2021, Initiated its previous ‘Outperform’ rating for FRSH. Robert W. Baird also rated FRSH shares as ‘Outperform’, setting a target price of $50 on the company’s shares in an initiating report dated October 18, 2021. Piper Sandler initiated its ‘Overweight’ rating for FRSH, as published in its report on October 18, 2021. Oppenheimer’s report from October 18, 2021 suggests a price prediction of $50 for FRSH shares, giving the stock a ‘Outperform’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Freshworks Inc. (FRSH)
Further, the quarter-over-quarter increase in sales is 42.20%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Freshworks Inc.’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 5.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and FRSH is recording an average volume of 3.15M. On a monthly basis, the volatility of the stock is set at 7.26%, whereas on a weekly basis, it is put at 7.41%, with a gain of 19.03% over the past seven days. Furthermore, long-term investors anticipate a median target price of $21.42, showing growth from the present price of $13.95, which can serve as yet another indication of whether FRSH is worth investing in or should be passed over.
How Do You Analyze Freshworks Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 67.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in FRSH shares?
The recent increase in stakes in FRSH appears to be a result of several institutional investors and hedge funds increasing their positions. Ward Ferry Management Ltd.’s position in FRSH has increased by 119.50% in the first quarter. The company now owns 6,729,186 shares of the stock, with a value of $88.49 million, following the purchase of 3,663,500 additional shares during the last quarter. Steadview Capital UK LLP made another decreased to its shares in FRSH during the first quarter, downing its stake by 0.00%.
At the end of the first quarter, Capital Research & Management Co decreased its FRSH holdings by -20.05% and now holds 3.28 million FRSH shares valued at $43.09 million with the lessened -0.82 million shares during the period. FRSH shares are owned by institutional investors to the tune of 67.00% at present.
