JFrog: Strong Execution, Conservative FY26 Outlook and Cloud-Security Momentum Support Buy Rating

Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on FROG stock, giving a Buy rating on February 6.

Shrenik Kothari has given his Buy rating due to a combination of factors tied to JFrog’s strong execution and de-risked outlook. He highlights that the company materially outperformed expectations in the latest quarter across revenue, cloud, and margins, with cloud sales expanding at over 40% year on year and security now representing a meaningful and growing share of recurring revenue and backlog.

Kothari also points to management’s FY26 guidance as deliberately conservative, built mainly on contracted commitments and excluding potential upside from incremental cloud consumption, especially AI-driven workloads. In his view, the combination of durable high-teens overall growth, robust cloud and security momentum, and expanding profitability creates an attractive risk/reward profile that supports the stock moving higher into and beyond the FY26 setup.

In another report released on February 6, Bank of America Securities also maintained a Buy rating on the stock with a $74.00 price target.

Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FROG in relation to earlier this year.