Analyst Shrenik Kothari of Robert W. Baird maintained a Buy rating on JFrog, boosting the price target to $78.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors tied to JFrog’s growth profile and conservative guidance framework. He views current Street expectations for mid-teens total revenue and high-20s to low-30s cloud growth as undemanding, especially as usage continues to exceed minimum commitments and management’s outlook still omits potential upside from large cloud migrations, usage overages, and emerging AI-related demand.
Additionally, recent channel and partner feedback indicates strong momentum in large enterprise wins, with JFrog increasingly becoming the system of record for software artifacts and AI/ML models, reinforcing its role as core infrastructure rather than optional tooling. Coupled with visible pricing power, growing security attach, a deepening pipeline of sizable standardization and migration deals, and a valuation that has reset below historical averages despite consistent execution, he sees a favorable risk/reward skew that supports maintaining a Buy rating.
Kothari covers the Technology sector, focusing on stocks such as CommVault Systems, Zscaler, and CrowdStrike Holdings. According to TipRanks, Kothari has an average return of 17.2% and a 61.01% success rate on recommended stocks.
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.