Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on FROG stock, giving a Buy rating yesterday.
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Shrenik Kothari has given his Buy rating due to a combination of factors including JFrog’s strong financial performance and strategic positioning. The company reported a notable increase in revenue, with a 22% year-over-year growth, and a significant rise in cloud revenue by 42%. This growth is supported by a robust free cash flow margin and a substantial increase in remaining performance obligations, indicating strong future revenue potential.
Additionally, JFrog’s focus on security and AI/MLOps, with partnerships like Hugging Face and GitHub, enhances its platform’s appeal. The company’s cautious yet optimistic guidance reflects its ability to manage macroeconomic uncertainties while leveraging cloud migration and DevSecOps trends. Trading at approximately 5.5 times the estimated sales for 2026, JFrog presents a compelling risk/reward profile, justifying the Buy rating.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $50.00 price target.