Freshworks price target raised to $24 from $20 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Freshworks (FRSH) to $24 from $20 and keeps an Overweight rating on the shares. The firm notes that the $5M top-line beat and 2025 growth outlook of 14% in constant currency was better-than-feared for a business model with high exposure to two controversial areas, namely customer support and EMEA. Piper was pleased by another quarter of solid execution with upside strength driven by Device42 cross-sell activity that helped boost EX segment ARR to $400M-plus.