Shares of AI-driven business software developer Freshworks (NASDAQ:FRSH) surprised the market once again and trounced Wall Street estimates for the fiscal first quarter. It’s the fourth consecutive quarter the company beat analyst earnings estimates by more than 30%.
FRSH stock jumped 3% on Wednesday to $14.77 per share on a day the major stock indices barely budged. After the earnings report, JMP Securities analyst Patrick Walravens maintained his buy rating on FRSH and reiterated his $27 per share one-year price target. At Freshworks’ current level, that represents an 83% increase.
This post originally appeared at Money Morning.