JFrog stock price target raised to $57 from $52 at KeyBanc

Investing.com - KeyBanc has raised its price target on JFrog (NASDAQ:FROG) to $57.00 from $52.00 while maintaining an Overweight rating on the stock. The company’s shares have surged nearly 70% year-to-date and are trading near their 52-week high of $50.98, according to InvestingPro data.

The firm cited several factors supporting its continued constructive view on JFrog, despite potentially limited developer headcount growth in the future. KeyBanc noted that JFrog’s licensing model and consumption-based pricing helps insulate it from headcount pressure. This business model has helped drive robust revenue growth of 22% over the last twelve months, with InvestingPro analysis showing strong financial health metrics and minimal debt exposure.

The analyst highlighted the promising GitHub partnership as another positive factor, along with continued momentum in both security and larger enterprise deals. Additional growth opportunities from MLOps, DevGovOps, AI/LLMs, and new products were also mentioned as supportive elements. Eight analysts have recently revised their earnings expectations upward, as revealed in InvestingPro’s comprehensive analysis, which includes 13 additional key insights available to subscribers.

KeyBanc specifically referenced recent product announcements including Fly, AppTrust, and AI Catalog, as well as partner testimonies from GitHub, ServiceNow, and Nvidia at the swampUP event as factors supporting potential growth upside.

The new price target of $57 is based on 11.5x 2026 EV/sales, reflecting KeyBanc’s incremental confidence in JFrog’s outlook.

In other recent news, JFrog Ltd. has been the focus of several analyst updates and product announcements. DA Davidson increased its price target for JFrog to $60, citing confidence in the company’s growth outlook following its swampUp user conference. Similarly, Canaccord Genuity raised its price target to $55, highlighting JFrog’s durable growth and expanding margins as key factors. Stifel maintained a Buy rating with a $53 price target, emphasizing JFrog’s integration of generative AI into its platform.

JFrog has also introduced AI-powered security remediation features, which integrate with GitHub Copilot to help developers automatically fix vulnerabilities. The company further unveiled AppTrust, a solution aimed at automating software supply chain compliance, providing evidence-based insights for security and integrity. These developments reflect JFrog’s continued innovation in enhancing software development processes.

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