Freshworks price target lowered to $16 from $18 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Freshworks (FRSH) to $16 from $18 and keeps an Equal Weight rating on the shares. Freshworks’ analyst day highlighted the company’s “unique positioning to fill the gap” between unscalable, lightweight point solutions and complex, expensive platform providers as the “uncomplicated, AI-native service platform,” the analyst tells investors. However, peer multiple compression reduces the firm’s price target despite minimal forecast changes following the event, the analyst noted.