UBS analyst Radi Sultan downgraded JFrog (FROG) to Neutral from Buy with a price target of $65, up from $48, after resuming coverage of the name. Channel checks indicate broad-based strength with no signs of slowing demand or rising competitive pressure, the analyst tells investors in a research note. JFrog continues to see solid uptake of Artifactory and growing momentum in security upsells, supporting growth estimates above consensus, and while AI-related tailwinds are meaningful, the larger revenue impact likely remains 12-18 months out, the firm says, adding that the strong positioning appears largely reflected in the valuation.
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