Software-as-a-service company Freshworks has several positive catalysts ahead, according to Canaccord Genuity.
He also increased his price target to $25 from $15.
The new price target implies 37% upside from where shares closed on Tuesday.
The company is "bringing it all together — [Go-to-market (GTM)] enhancements, operating efficiency, AI products and more," Hynes added.
Freshworks' operating margins in the second quarter demonstrated significant upside and improved marketing and sales efficiency, Hynes said.
Persons:
Freshworks, Canaccord, David Hynes, Hynes, Freddy Self, — CNBC's Michael Bloom
Organizations:
Service
Locations:
Freshworks