JFrog price target raised to $55 from $46 at Needham

Needham raised the firm’s price target on JFrog (FROG) to $55 from $46 and keeps a Buy rating on the shares. The company’s Q2 results materially outperformed expectations as the management is executing across multiple dimensions, the analyst tells investors in a research note. JFrog converted customers incurring overages to larger commitments while its customers are adopting the company’s Security offering, the firm added.