JFrog To Gain From Pipeline Strength Amid Positive Consumption Trend, Analyst Forecasts Multi-Year Growth
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Mike Cikos reiterated a Buy rating on JFrog Ltd (NASDAQ:FROG), raising the price target to $36 from $25. JFrog recently reported Q2 results, with total revenues of $84.2 million, a 24% Y/Y increase. The analyst believes JFrog can capture a long-tailed, developer-driven opportunity in the software business. The company's pipeline opportunities, positive consumption and commitment trends, and moderation of the challenging macro demand environment are seen as positive. The analyst also raised EPS estimates for FY23 and FY24.
August 04, 2023 | 2:14 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
JFrog Ltd's stock price is likely to be positively impacted by the Buy rating reiterated by Needham analyst Mike Cikos, who also raised the price target to $36 from $25. The company's Q2 results and positive outlook also contribute to this potential impact.
The Buy rating and raised price target by Needham analyst Mike Cikos indicate a positive outlook for JFrog Ltd. The company's Q2 results, showing a 24% Y/Y increase in revenues, and the positive outlook on the company's pipeline opportunities and consumption trends, further support this positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100