JFrog price target raised to $55 from $50 at Raymond James

Raymond James analyst Mark Cash raised the firm’s price target on JFrog (FROG) to $55 from $50 and keeps an Outperform rating on the shares. JFrog’s Q2 results and forward guidance were above the firm’s estimates, as Cloud and Subscriber growth both accelerated via over-consumption and landing larger commitments, the analyst tells investors in a research note. Guidance remains overly conservative, and the firm continues to like the setup with JFrog’s user conference SwampUp in early September as the next potential catalyst.