Freshworks upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research upgraded Freshworks to Outperform from Peer Perform with a $27 price target. The analyst sees the combination of improving fundamentals, execution, and competitive dynamics supporting multi-year 20% revenue growth with expanding margins for the company. The firm continues to view earnings as the primary catalyst, though it also sees a positive follow through during the upcoming conference season as more investors realize that “this is a good story at a GREAT price.”