What Happened?
Shares of software supply chain platform JFrog (NASDAQ: FROG) jumped 4.8% in the afternoon session after analysts raised their price targets following the company's strong third-quarter performance.
TD Cowen increased its price target for JFrog to $75 from $58, highlighting a 50% growth in its cloud business, which far outpaced the expected 36%. Similarly, Truist Securities lifted its target to $70 from $55, also pointing to robust performance in the company's cloud operations. The stock's recent strength, which included hitting a new 52-week high, was also supported by KeyBanc, which maintained its Overweight rating and a $71 price target, emphasizing JFrog's solid footing in AI software development.
Is now the time to buy JFrog? Access our full analysis report here.
What Is The Market Telling Us
JFrog’s shares are quite volatile and have had 15 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 3.2% on the news that KeyBanc reiterated its "Overweight" rating and a $71 price target on the stock. The investment firm noted JFrog's strong position in the artificial intelligence software development space, calling it "the cleanest story in developer software" and expecting continued strong results into 2026.
JFrog is up 123% since the beginning of the year, and at $68.55 per share, has set a new 52-week high. Investors who bought $1,000 worth of JFrog’s shares 5 years ago would now be looking at an investment worth $1,015.
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