JFrog initiated with an Outperform at Raymond James

Raymond James analyst Mark Cash initiated coverage of JFrog (FROG) with an Outperform rating and $40 price target The firm believes security, artificial intelligence, and enterprise can become “emerging growth catalysts” for JFrog that can drive valuation multiple expansion. JFrog has landed about 1% of its total addressable market and with the industry in the early stages of consolidating to prebuilt DevSecOps solutions, it can become a multi-billion business, the analyst tells investors in a research note.