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Freshworks price target lowered to $18 from $22 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter lowered the firm’s price target on Freshworks to $18 from $22 and keeps an Equal Weight rating on the shares. Q2 and FY24 revenue guidance that came in below consensus overshadowed a Q1 beat and improved profitability, says the analyst, who sees go-to-market execution and AI impacts against a backdrop of elevated investor skepticism leaving shares under pressure.

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