Freshworks price target raised to $12 from $11 at Wells Fargo

Wells Fargo raised the firm’s price target on Freshworks (FRSH) to $12 from $11 and keeps an Underweight rating on the shares. The firm notes Q1 results/outlook were about in line, adjusted for FX, one-time items and likely D42 contribution. However, with estimated organic growth further decelerating, tough FY25 billings setup, and the view the company remains in a tough spot in both CX/EX markets, Wells remains Underweight at current levels.