JFrog (FROG) AI Stock Analysis

• Market Cap: $7.30B
• Dividend Yield: N/A
• Average Volume (3M): 1.24M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.04
• Revenue Growth: 22.69%
• EPS Growth: -32.47%
• Country: US
• Employees: 1,600
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.22
• Shares Outstanding: 118,312,836
• 10 Day Avg. Volume: 2,193,074
• 30 Day Avg. Volume: 1,238,620
• PEG Ratio: -6.87
• Price to Book (P/B): 4.17
• Price to Sales (P/S): 7.53
• P/FCF Ratio: 29.93
• Enterprise Value/Market Cap: 0.67
• Enterprise Value/Revenue: 9.77
• Enterprise Value/Gross Profit: 12.91
• Enterprise Value/Ebitda: -95.44
• 1Y Price Target: $68.33
• Price Target Upside: 6.75% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17
• EPS Forecast (FY): 0.78
• Revenue Forecast (FY): $522.63M

• Rating: 71 Outperform
• Price Target: $71.00 ▲(10.92% Upside)

JFrog's overall stock score is driven by strong financial performance and technical analysis indicators. The company's robust revenue growth and strategic positioning in AI and cloud services are significant strengths. However, the negative P/E ratio and overbought technical conditions present risks. The positive sentiment from the earnings call further supports the stock's potential, despite challenges in cloud adoption and longer sales cycles.

Positive Factors

Revenue Growth

Strong revenue growth indicates JFrog's effective market penetration and product demand, supporting long-term business expansion and stability.

Enterprise Customer Expansion

Increasing enterprise customer base enhances revenue predictability and strengthens JFrog's competitive position in the market.

Innovation in AI and Machine Learning

Investments in AI and ML expand JFrog's product offerings, aligning with industry trends and potentially driving future growth.

Negative Factors

Profitability Challenges

Ongoing profitability issues could hinder JFrog's ability to reinvest in growth and innovation, impacting long-term financial health.

Challenges in Cloud Adoption

Hesitation in cloud adoption may slow JFrog's growth in this segment, affecting revenue from cloud-based solutions.

Longer Sales Cycles for Security Solutions

Extended sales cycles could delay revenue realization and increase customer acquisition costs, impacting JFrog's growth momentum.

JFrog Business Overview & Revenue Model

Company Description

JFrog Ltd. is a software company specializing in DevOps solutions that facilitate the management and distribution of software binaries and artifacts. Founded in 2008, JFrog is best known for its flagship product, Artifactory, a universal artifact repository manager that supports various package formats. The company operates in the software development sector, providing tools that enhance software development workflows across industries, enabling continuous integration and continuous delivery (CI/CD) processes.

How the Company Makes Money

JFrog generates revenue primarily through a subscription-based model, offering various tiers of its products and services, including Artifactory, JFrog Xray, and JFrog Pipelines. These subscriptions are typically sold to enterprises needing robust solutions for managing software artifacts and dependencies. The company also provides additional services such as training, support, and consulting, which contribute to its revenue streams. Key partnerships with cloud service providers and integrations with popular CI/CD tools further enhance its market reach and sales opportunities. Additionally, the company offers a free tier to attract smaller teams and organizations, with the aim to convert them to paid plans as their needs grow.

JFrog Financial Statement Overview

Summary

JFrog demonstrates strong revenue growth and efficient cost management, as seen in its high gross profit margin. The balance sheet is robust with low leverage, though profitability remains a concern with negative net income and return on equity. Cash flow metrics are improving, indicating potential for future financial stability.

Income Statement

JFrog's revenue growth has been consistent, with a TTM growth rate of 5.87%. However, the company is still operating at a loss, with a negative net profit margin of -15.88% and a negative EBIT margin of -11.24%. The gross profit margin remains strong at 75.42%, indicating efficient cost management in production.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.013, reflecting minimal leverage and a strong equity position. However, the return on equity is negative at -9.79%, indicating challenges in generating profits from shareholders' investments. The equity ratio is healthy, showing a solid asset base supported by equity.

Cash Flow

JFrog shows a positive trend in cash flow, with a free cash flow growth rate of 1.52% and a strong free cash flow to net income ratio of 0.98. The operating cash flow to net income ratio is 0.39, suggesting that the company is generating cash effectively despite net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	502.61M	428.49M	349.89M	280.04M	206.68M	150.83M
Gross Profit	380.29M	330.19M	272.84M	216.95M	164.86M	122.38M
EBITDA	-51.44M	-69.64M	-60.24M	-62.73M	-59.62M	-10.53M
Net Income	-79.81M	-69.24M	-61.26M	-90.18M	-64.20M	-9.40M
Balance Sheet
Total Assets	1.27B	1.13B	972.56M	871.22M	852.53M	689.23M
Cash, Cash Equivalents and Short-Term Investments	651.06M	522.01M	545.01M	443.20M	421.13M	598.06M
Total Debt	11.15M	13.98M	22.23M	23.96M	27.31M	0.00
Total Liabilities	406.11M	356.38M	293.43M	246.45M	213.95M	135.34M
Stockholders Equity	859.42M	773.53M	679.12M	624.77M	638.58M	553.89M
Cash Flow
Free Cash Flow	140.90M	107.78M	72.17M	16.80M	23.67M	25.94M
Operating Cash Flow	144.15M	110.92M	74.16M	21.43M	27.90M	29.46M
Investing Cash Flow	-162.41M	-165.36M	-53.48M	-53.34M	-125.55M	-311.80M
Financing Cash Flow	33.59M	21.23M	18.37M	11.03M	1.44M	406.13M

JFrog Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 64.01
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FROG, the sentiment is Positive. The current price of 64.01 is above the 20-day moving average (MA) of 50.89, above the 50-day MA of 49.60, and above the 200-day MA of 41.59, indicating a bullish trend. The MACD of 3.17 indicates Negative momentum. The RSI at 71.32 is Negative, neither overbought nor oversold. The STOCH value of 89.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FROG.

JFrog Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CWAN	74 Outperform	$4.88B	12.03	32.91%	―	50.91%	54812.50%
FROG	71 Outperform	$7.30B	-88.30	-9.88%	―	22.69%	-32.47%
BILL	68 Neutral	$5.20B	-190.53	0.30%	―	11.63%	50.72%
GTLB	63 Neutral	$7.70B	―	-0.63%	―	28.97%	98.96%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ZETA	61 Neutral	$4.79B	―	-3.92%	―	35.87%	85.20%
COMP	56 Neutral	$5.43B	-84.15	-9.39%	―	24.27%	73.11%

JFrog Corporate Events

JFrog Ltd. Reports Strong Q3 Earnings and Growth

JFrog Ltd. recently held its earnings call, revealing a positive sentiment driven by strong financial performance and strategic advancements. The company showcased significant revenue growth and enterprise customer expansion, with notable successes in the cloud and security segments. However, challenges such as cloud adoption for AI workloads and longer sales cycles for security solutions were also acknowledged.

JFrog Ltd. Reports Strong Q3 2025 Growth

JFrog Ltd. is a technology company specializing in DevOps, DevSecOps, and MLOps platforms, providing a comprehensive software supply chain platform that enables organizations to build, manage, and distribute software efficiently and securely.

JFrog Appoints Sigal Zarmi to Board of Directors

On September 19, 2025, JFrog Ltd. announced the appointment of Sigal Zarmi to its Board of Directors, effective November 1, 2025. Zarmi, a seasoned CIO and digital transformation executive with experience at companies like Morgan Stanley and PwC, is expected to drive strategic enterprise growth in the areas of DevOps, DevSecOps, and MLOps. Her appointment comes amid significant shifts in the enterprise software market, and her expertise is anticipated to bolster JFrog’s position as a leader in the software and AI-driven world.

The most recent analyst rating on (FROG) stock is a Buy with a $55.00 price target. To see the full list of analyst forecasts on JFrog stock, see the FROG Stock Forecast page.

JFrog’s Earnings Call: Strong Growth Amid AI and Economic Challenges

JFrog Ltd. recently held its earnings call, revealing a generally positive sentiment with notable revenue growth and advancements in AI partnerships. The company showcased strong performance in cloud revenue, though it expressed concerns about potential slowdowns in cloud migrations due to the evolving demands of AI infrastructure and macroeconomic uncertainties impacting future outlooks.