Baird analyst Shrenik Kothari maintains $JFrog (FROG.US)$ with a buy rating, and sets the target price at $36.
According to TipRanks data, the analyst has a success rate of 79.0% and a total average return of 25.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $JFrog (FROG.US)$'s main analysts recently are as follows:
Post-Q3 report, there is a focus among investors on the company's Q4 cloud growth and the fiscal 2025 growth algorithm.
Following a robust Q3 report featuring 37% growth in billings and a surge in cRPO bookings to approximately 28%, along with a 47% increase in total RPO, analysts highlight JFrog's momentum in securing larger deals. Despite a conservative stance from management and an unchanged outlook for Q4 despite Q3's overachievement, there is continued confidence in JFrog's potential to broaden its use cases among existing clients.
The second quarter was challenged by the postponement of several significant cloud migration contracts, yet the third quarter witnessed the materialization of some of these agreements, leading to an acceleration in revenue growth. It's anticipated that enhanced net retention may begin to manifest in the year 2025.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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