Citizens and Oppenheimer Cut Freshworks Inc. (FRSH) Price Targets After Q4 Results

Freshworks Inc. (NASDAQ:FRSH) is one of the best under-the-radar stocks to buy according to hedge funds.

On February 11, Citizens lowered its price target on Freshworks Inc. (NASDAQ:FRSH) from $27 to $16 and kept its Market Outperform rating on the stock.

This update came after the company reported Q4 results, which beat market expectations with non-GAAP earnings per share of $0.14 compared to the consensus estimate of $0.12. Citizens also noted that Freshworks Inc.’s (NASDAQ:FRSH) Freddy AI annual recurring revenue reached $25 million in the quarter, up from $20 million in the previous quarter.

Also on February 11, Oppenheimer cut its price target on Freshworks Inc. (NASDAQ:FRSH) from $18 to $15 and maintained its Outperform rating on the stock. Oppenheimer said the company reported “good” Q4 results, with support from momentum across its EX business and AI products.

However, the research firm reduced its price target because of “lower peer group multiples.” Oppenheimer pointed to steady revenue growth, profit margins, and cash generation. The research firm pointed to “low multiples and strong balance sheet” and said this could support increased capital returns to shareholders.

Freshworks Inc. (NASDAQ:FRSH) provides enterprise-grade, AI-assisted business software solutions for customer and employee experiences.

While we acknowledge the potential of FRSH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FRSH and that has a 100x upside potential, check out our report about the cheapest AI stock.

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