JFrog price target lowered to $40 from $50 at Barclays

Barclays lowered the firm’s price target on JFrog to $40 from $50 and keeps an Overweight rating on the shares post the Q2 report. The firm says investors are disappointed with a lowered guidance given management reiterated fiscal year sales at the end of June. It believes in JFrog’s long-term story, buts says management is “likely course correcting for an initial FY24 Cloud guide that was too aggressive given current macro.”