In a report released today, Mike Cikos from Needham maintained a Buy rating on JFrog (FROG – Research Report), with a price target of $46.00.
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Mike Cikos has given his Buy rating due to a combination of factors that highlight JFrog’s strong performance and promising outlook. Despite initial concerns regarding potential shortfalls in management’s full-year guidance, JFrog exceeded expectations with strong quarterly results. The company showcased impressive metrics, with key performance indicators such as Billings rising by 22% and Remaining Performance Obligations increasing by 55% year-over-year.
Furthermore, JFrog’s revenue guidance for CY25, projected at 16%-17% year-over-year growth, is considered conservative but still surpasses sell-side forecasts. This positive outlook is supported by the company’s robust revenue growth, particularly in its Cloud Revenue segment. Although there are minor concerns about specific financial contributions and customer count, these are seen as relatively insignificant within the broader context of JFrog’s financial health and future potential.
In another report released today, Barclays also maintained a Buy rating on the stock with a $48.00 price target.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FROG in relation to earlier this year.