Needham analyst Mike Cikos has maintained their bullish stance on FROG stock, giving a Buy rating today.
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Mike Cikos has given his Buy rating due to a combination of factors that highlight JFrog’s strong performance and strategic initiatives. The company’s recent earnings significantly surpassed expectations, showcasing effective management across various areas. A key driver of this success is JFrog’s ability to convert customers with overages into larger commitments, which has been complemented by the growing adoption of its Security offerings.
Additionally, JFrog has been successful in securing larger, multi-year contracts, resulting in a remarkable 75% year-over-year increase in RPO growth. This growth reflects JFrog’s comprehensive strategy to address customer challenges and streamline expenditures through its platform. Furthermore, the potential for increased interest in Self-Managed solutions, as companies transition from a Cloud-first approach to a more tailored Fit-for-Purpose model, suggests further opportunities for JFrog to optimize costs and expand its customer base.
According to TipRanks, Cikos is a 5-star analyst with an average return of 11.1% and a 51.96% success rate. Cikos covers the Technology sector, focusing on stocks such as Zscaler, Cellebrite DI, and Cognyte Software.