Home  »  Business   »  Buying Freshworks Inc. (NASDAQ: FRSH)? Here Are So...

Buying Freshworks Inc. (NASDAQ: FRSH)? Here Are Some Things To Consider

Freshworks Inc. (NASDAQ:FRSH) shares, rose in value on Wednesday, 08/03/22, with the stock price up by 8.39% to the previous day’s close as strong demand from buyers drove the stock to $15.12.

Actively observing the price movement in the last trading, the stock closed the session at $13.95, falling within a range of $14.36 and $15.60. Referring to stock’s 52-week performance, its high was $53.36, and the low was $10.51. On the whole, FRSH has fluctuated by 2.37% over the past month.

Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored

With the market capitalization of Freshworks Inc. currently standing at about $4.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for Nov 02, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.04 for fiscal year -$0.16 and then to about -$0.1 by fiscal year 2023. Data indicates that the EPS growth is expected to be 23.80% in 2023, while the next year’s EPS growth is forecast to be 37.50%.

Analysts have estimated the company’s revenue for the quarter at $118.24 million, with a low estimate of $117.1 million and a high estimate of $119.1 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $497.75 million, representing an increase of 34.20% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that FRSH’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of FRSH currently trading nearly 13.46% and 11.64% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.70, while the 7-day volatility ratio is showing 8.06% which for the 30-day chart, stands at 7.01%. Furthermore, Freshworks Inc. (FRSH)’s average true range (ATR) is 1.02. The company’s stock has been forecasted to trade at an average price of $21.15 over the course of the next 52 weeks, with a low of $14.00 and a high of $40.00. Based on these price targets, the low is 7.41% off current price, whereas the price has to move -164.55% to reach the yearly target high. Additionally, analysts’ median price of $18.00 is likely to be welcomed by investors because it represents a decrease of -19.05% from the current levels.

Data on historical trading for Freshworks Inc. (NASDAQ:FRSH) indicates that the trading volumes over the past 10 days have averaged 1.86 million and over the past 3 months, they’ve averaged 3.15 million. According to company’s latest data on outstanding shares, there are 278.19 million shares outstanding.

Nearly 1.00% of Freshworks Inc.’s shares belong to company insiders and institutional investors own 67.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.13 million shares as on Jul 14, 2022, resulting in a short ratio of 4.54. According to the data, the short interest in Freshworks Inc. (FRSH) stood at 5.68% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 12.61 million. The stock has fallen by -42.42% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FRSH stock heading into the next quarter.

Leave a Comment

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]