JFrog stock price target raised to $60 from $50 at BofA ahead of SwampUP event

Investing.com - BofA Securities raised its price target on JFrog (NASDAQ:FROG) to $60 from $50 on Wednesday, while maintaining a Buy rating on the software company ahead of its annual customer conference. The stock, which has surged over 60% year-to-date and currently trades near its 52-week high of $50.57, has shown remarkable momentum according to InvestingPro data.

With a market capitalization of $5.56 billion and strong revenue growth of 22% over the last twelve months, JFrog will host its SwampUP conference next week on September 9-10, where BofA analyst Koji Ikeda expects to learn more about the company’s leadership position in the software supply chain market. InvestingPro data shows the company maintains a healthy balance sheet with more cash than debt and strong liquidity ratios.

The analyst highlighted particular interest in the conference keynote on Tuesday, September 9, which will feature executives from NVIDIA, ServiceNow, and Sonar, potentially providing insights on how JFrog is establishing itself as a critical vendor for enterprise DevSecOps.

BofA believes the SwampUP event could serve as a catalyst for JFrog stock if it provides data points supporting the firm’s view that the company is positioned for long-term market share gains.

The price target increase reflects a higher valuation multiple (11x versus 9x previously) based on the firm’s "increasing confidence in its execution potential and competitive differentiation," with expectations that JFrog will maintain "durable revenue growth with expanding free cash flow margins" in the future.

In other recent news, JFrog has reported notable developments that have caught the attention of several analyst firms. The company’s second-quarter 2025 performance was highlighted by Cantor Fitzgerald, which maintained an Overweight rating and increased its price target to $55, citing an impressive beat in revenue, billings, and operating margin. This strong performance was driven by increased developer activity and significant security wins. Similarly, DA Davidson raised its price target for JFrog to $55, maintaining a Buy rating, with cloud usage and security demand as key growth drivers.

CFRA also adjusted its outlook, raising the price target to $51 from $47, while maintaining a Buy rating, pointing to JFrog’s consistent top-line growth as a positive indicator. Truist Securities reiterated its Buy rating and $55 price target following discussions with JFrog’s CFO and VP of Investor Relations, focusing on growth drivers and future prospects. These recent developments reflect a positive sentiment among analysts regarding JFrog’s financial health and growth potential.

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