Street Calls of the Week
SAN MATEO, Calif. - Freshworks Inc. (NASDAQ:FRSH), a software company with a market capitalization of $3.3 billion and impressive gross profit margins of 84.6%, has appointed Enrique Ortegon as Senior Vice President and General Manager of Americas Field Sales, the company announced Tuesday.
Ortegon, who previously held executive positions at DocuSign and Salesforce, brings over 20 years of leadership experience in enterprise SaaS and go-to-market strategy. At Freshworks, he will lead growth strategy and operations across North and South America, joining the company as it maintains strong financial health with a current ratio of 2.63 and more cash than debt on its balance sheet.
Most recently, Ortegon served as a senior executive at DocuSign, where he led the North America Majors, Mid-Market, and SMB businesses. Prior to that, he spent more than a decade at Salesforce in various leadership roles, including SVP of SMB North America and General Manager for Latin America.
"Enrique is a transformational leader who brings the perfect combination of strategic vision, operational excellence, and deep market expertise to accelerate our growth across the Americas," said Ian Tickle, Chief of Global Field Operations at Freshworks, in a press release statement.
In addition to his corporate roles, Ortegon advises startups and an investment fund focused on Latin entrepreneurs and underrepresented communities. He holds a bachelor’s degree in Economics from Tecnológico de Monterrey and an MBA from Stanford Graduate School of Business.
Freshworks provides service software for customer and employee experiences. The company serves more than 74,000 clients, including Bridgestone, New Balance, S&P Global, and Sony Music.
In other recent news, Freshworks Inc. has announced ambitious medium-term financial targets, aiming for over $1.2 billion in revenue and more than $340 million in free cash flow by FY28. This announcement coincides with the company’s goal to achieve a "Rule of 45," a combined growth and profitability metric. Analysts have responded positively, with UBS reiterating a Buy rating and maintaining a $19 price target, while Cantor Fitzgerald has kept an Overweight rating with a $20 price target. Oppenheimer also reaffirmed its Outperform rating, noting Freshworks’ growth opportunities and AI adoption momentum. Needham supports this optimistic outlook, reiterating a Buy rating and setting a $25 price target, emphasizing the company’s path to the "Rule of 45." JMP Securities has echoed this sentiment with a Market Outperform rating and a $27 price target, following Freshworks’ Investor Day. These developments highlight Freshworks’ strategic focus on accelerating revenue growth and improving financial transparency through 2028.
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