JFrog price target raised to $30 from $25 at Scotiabank

Scotiabank analyst Nick Altmann raised the firm’s price target on JFrog (FROG) to $30 from $25 and keeps a Sector Perform rating on the shares. While Q3 revenue was strong, outperformance was driven more from self-managed & license as cloud revenue growth was more muted, the analyst tells investors. The firm is encouraged by large platform deals starting to move the needle on bookings and believes more referenceable logos will drive pipeline conversion.