J.P. Morgan analyst Pinjalim Bora maintains $Freshworks (FRSH.US)$ with a buy rating, and adjusts the target price from $17 to $20.
According to TipRanks data, the analyst has a success rate of 60.8% and a total average return of 14.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Freshworks (FRSH.US)$'s main analysts recently are as follows:
The company reported a robust third quarter, with financial results that surpassed expectations and also provided an improved forecast regarding margins.
Freshworks' recent quarterly performance was consistent with expectations when accounting for Device42 adjustments. However, near-term disruptions are anticipated due to a reduction in force of 13%, alterations in go-to-market strategies, and decreased revenue forecasts in light of the preliminary FY25 outlook. It is anticipated that the company's share price will stay within a certain range while it navigates through these strategic shifts.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
