Freshworks price target raised to $20 from $14 at Scotiabank

Scotiabank raised the firm’s price target on Freshworks to $20 from $14 and keeps a Sector Perform rating on the shares post the Q2 results. All metrics point to the company’s underlying growth reaching some level of stabilization, “which is impressive given the significant improvements in margins,” the analyst tells investors in a research note. The firm is now more constructive on the shares but says Freshworks’ valuation remains elevated versus peers.