KeyCorp starts coverage and sets USD 18 target for Freshworks stock

Published on 10/01/2026 at 15:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KeyCorp assigns an overweight rating and USD 18.00 target on September 14, 2026. Freshworks stock was valued at USD 3.6 billion on October 1, 2026.

FRSH, US3580541013, Illustration mit AI erstellt.

Freshworks (ISIN US3580541013) received an overweight rating and a USD 18.00 price target when KeyCorp initiated coverage on September 14, 2026, according to MarketBeat. The call gives investors a fresh benchmark above the company's current market value, while the stock remains below its 52-week high.

KeyCorp sets an USD 18 target

MarketBeat reported that KeyCorp started coverage with an overweight rating and an USD 18.00 target. The same report said Freshworks traded at USD 12.73 when the analyst update was summarized, implying 41.41 percent upside from that reference price.

The analyst action followed a second quarter that combined growth with a return to GAAP profitability. The target therefore puts the emphasis on whether Freshworks can convert its service software expansion and artificial intelligence adoption into durable earnings.

Revenue reaches USD 237.4 million

Freshworks generated USD 237.4 million of revenue in the second quarter of 2026, up 16 percent from the same quarter of 2025, according to Quartr. GAAP net income reached USD 3.2 million, compared with a loss in the prior-year quarter, while GAAP earnings per share were USD 0.01 and non-GAAP earnings per share were USD 0.17.

The operating picture also includes USD 55.9 million of non-GAAP operating income and USD 57.7 million of adjusted free cash flow in the second quarter. Freshworks said more than 7,000 customers were paying for artificial intelligence products, and employee-experience annual recurring revenue grew 24 percent in constant currency to USD 567 million.

FRSH remains below its yearly high

Freshworks was trading at USD 13.05 on Nasdaq at 9:51 a.m. ET on October 1, 2026, up 2.05 percent from the prior close of USD 12.79. Its USD 3.6 billion market capitalization and USD 6.79 to USD 13.99 52-week range place the quote 6.72 percent below the yearly high.

The stock's market position now rests on two measurable factors: second-quarter revenue growth of 16 percent and the first GAAP-profitable quarter described by Quartr. KeyCorp's USD 18.00 target adds a valuation test, while the distance from the 52-week high leaves room for the market to demand further evidence from future results.

Freshworks market data

On Nasdaq, FRSH was trading at USD 13.05 at 9:51 a.m. ET on October 1, 2026. The company had a USD 3.6 billion market capitalization and a USD 6.79 to USD 13.99 52-week range.