On Nov 09, major Wall Street analysts update their ratings for $JFrog (FROG.US)$, with price targets ranging from $35 to $42.
Morgan Stanley analyst Sanjit Singh maintains with a buy rating, and adjusts the target price from $33 to $36.
J.P. Morgan analyst Pinjalim Bora maintains with a buy rating, and sets the target price at $37.
BofA Securities analyst Koji Ikeda maintains with a buy rating, and adjusts the target price from $44 to $42.
UBS analyst Jeff Hickey maintains with a buy rating, and adjusts the target price from $41 to $38.
TD Cowen analyst Andrew Sherman maintains with a buy rating, and maintains the target price at $35.
Furthermore, according to the comprehensive report, the opinions of $JFrog (FROG.US)$'s main analysts recently are as follows:
After JFrog delivered a 'solid' third-quarter report, highlighted by a 37% growth in billings and an acceleration of cRPO bookings to roughly 28%, along with a total RPO growth of 47% indicating increased momentum in larger deals, the outlook remains promising. Despite a cautious management tone and unchanged fiscal Q4 guidance following the Q3 outperformance, the potential for JFrog to broaden its use cases among existing customers is viewed positively.
The second quarter experienced delays in numerous sizable cloud migration contracts; however, the third quarter witnessed the fruition of some of these agreements, leading to an acceleration in revenue growth. Continued potential for an upswing in net retention rates is anticipated as we approach the calendar year 2025.
JFrog's recent financial disclosure indicated positive outcomes, exceeding both internal and broader financial projections with respect to total revenue and non-GAAP operating income. Furthermore, the company has increased its guidance for 2024. These third-quarter results have provided a measure of reassurance. The long-term optimistic outlook on JFrog's position as a dominant player in the enterprise DevSecOps sector remains steadfast.
JFrog delivered a robust third quarter, surpassing expectations in all aspects while reiterating its forecast for 40% cloud growth in FY24, aligning with market observations.
Here are the latest investment ratings and price targets for $JFrog (FROG.US)$ from 10 analysts:
Note:
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