Freshworks Inc (FRSH) PT Raised to $24 at Oppenheimer

Oppenheimer analyst Brian Schwartz raised the price target on Freshworks Inc (NASDAQ: FRSH) to $24.00 (from $22.00) while maintaining a Outperform rating.

The analyst comments "Freshworks' improving business story remains on track with above-consensus 4Q:24 results and good 2025 guidance. The 4Q:24 business strength is visible across billings, ARR, margin growth, and, coupled with positive commentary on Freddy AI co-pilot adoption, durable employee experience business growth, and 20%+ cash margins. In addition, 60%+ of total ARR came from midmarket customers, suggesting success with the upmarket move. Negatively, the CX business and NRR remain under pressure, and billings guidance looks uninspiring. Bottom Line: In our view, Freshworks business is generating solid growth and profit margins, and FRSH estimates have already bottomed. Further, Freshworks' 4Q:24 results reaffirm better sales execution, and alongside an SMB market in position for a cyclical recovery and conservative guidance, support upside to estimates in 2025. Raise PT to $24."

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