JFrog price target raised to $64 from $53 at Stifel

Stifel raised the firm’s price target on JFrog (FROG) to $64 from $53 and keeps a Buy rating on the shares. JFrog gained roughly 25% in after-hours trading, as the magnitude of SaaS upside has accelerated for five straight quarters, driven by strong usage across both conventional and AI software packages, growing security adoption, and converting customers into larger annual contracts, the analyst tells investors in a research note. The firm added that it expects sustained, if not accelerating, broad-based go-to-market investment over the coming years.