JFrog price target raised to $60 from $48 at Piper Sandler

Piper Sandler raised the firm’s price target on JFrog (FROG) to $60 from $48 and keeps a Neutral rating on the shares. The firm says there is nothing to pick at in another very strong result from JFrog, with upside across the board in Q3. Piper says that while “we are colored impressed and simultaneously contrite regarding our Neutral stance,” the current valuation sitting at an EV of 11x 2026 revenues could leave little room for upside unless the business continues to accelerate from here.