12:59 PM EDT, 04/25/2024 (MT Newswires) -- Freshworks ( FRSH ) achieved and likely topped its financial targets in Q1, the results for which are set to be released next week, Oppenheimer said in a note Thursday.

The firm attributed its forecast to "a more focused sales organization and product led growth initiatives coupled with a low estimates bar."

Offsetting this positive are demand headwinds, acquisition challenges negative foreign exchange in the Asia-Pacific region and more difficult year over year comparisons ahead, Oppenheimer said.

"These items are restraints for upward momentum to the growth guidance and management will likely take a prudent approach to guidance despite potential upside in Q1 given these headwinds," the firm said.

Oppenheimer maintained the company's outperform rating and $26 price target.

Price: 18.37, Change: -0.15, Percent Change: -0.81