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Investing.com - Truist Securities has raised its price target on JFrog (NASDAQ:FROG) to $55.00 from $45.00 while maintaining its Buy rating on the stock. The new target represents the highest among analysts covering the stock, which has already delivered an impressive 31.89% return year-to-date. According to InvestingPro data, JFrog’s current trading price is near its calculated Fair Value.
The price target adjustment follows what Truist described as "another quarter of strong consumption" for JFrog, with the company crossing the midpoint of its fiscal year 2025.
According to Truist Securities, JFrog management indicated strong traction in both core and new workloads on the platform, suggesting continued growth across its product offerings.
The research firm noted that JFrog appears to have applied "incremental conservatism" to guidance for the remainder of the year, as the company continues to de-risk its outlook for large deals in the pipeline.
Truist believes these large deals could potentially drive upside in Q4 versus consensus expectations if the macroeconomic environment remains stable.
In other recent news, JFrog reported impressive second-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.18, compared to the forecasted $0.16. The company also exceeded revenue projections, reporting $127.2 million against an anticipated $122.79 million. This strong performance was attributed to accelerating cloud growth, which reached 45%, significantly above the consensus expectations of 36%. In response, several firms have adjusted their price targets for JFrog. Stifel raised its price target to $53, citing the company’s robust cloud growth momentum and increased customer contract conversions. TD Cowen increased its target to $55, highlighting JFrog’s improved guidance and cloud growth acceleration from the previous quarter. KeyBanc and Piper Sandler also lifted their price targets to $52 and $48, respectively, with both firms acknowledging the company’s solid performance and cloud revenue growth. These developments indicate a positive outlook from analysts regarding JFrog’s future prospects.
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