Freshworks price target raised to $14 from $11 at Wells Fargo

Wells Fargo analyst Michael Berg raised the firm’s price target on Freshworks (FRSH) to $14 from $11 and keeps an Equal Weight rating on the shares. The firm notes Freshworks reported an in-line quarter adjusted for Device42, but Wells continues to expect near-term disruption with 13% RIF, GTM changes and lowered revenue estimates with preliminary FY25 outlook. The firm expects shares to remain range bound as the company works through shift in focus.