Movement Alert|Freshworks Rises 8.13% in Regular Trading, Guggenheim Initiates Coverage With Buy Rating and $25 Target Price

Market Focus
Jul 28

On July 28, Freshworks rose 8.13% in regular trading, trading at $11.105/share, with turnover of $65.67 million.

On the news front, investment bank Guggenheim recently initiated coverage of Freshworks with a Buy rating and a $25 price target, implying more than 100% upside from the current share price. The target significantly exceeds the analyst consensus price target of $12.77, substantially boosting market confidence in the stock.

It is worth noting that Freshworks is scheduled to report its second-quarter earnings on August 4, with market consensus expecting EPS of -$0.03. Prior analyst actions on the stock have been mixed, with Morgan Stanley cutting its target to $13 from $15 in May, and Oppenheimer downgrading to Perform in March. Guggenheim's bullish initiation stands out as a notably contrarian and optimistic call relative to the broader analyst community.

Freshworks provides AI-powered service software focused on employee and customer experience solutions, serving enterprise clients across approximately 170 countries worldwide.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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