JFrog Stock (FROG): $89 Price Target From Needham

By Amit Chowdhry ● October 12, 2020
  • Today the stock price JFrog Ltd (NASDAQ: FROG) is trading at more than 3% following multiple price target increases from analysts. These are the details.

Today the stock price JFrog Ltd (NASDAQ: FROG) is trading at more than 3% following multiple price target increases from analysts. Needham analyst Jack Andrews has one of the most bullish recommendations at an $89 price target. Oppenheimer also assigned an “Outperform” rating for JFrog with a price target of $90.

“Successful digital transformations are increasingly dependent on releasing software faster and more autonomously than peers. We believe FROG provides a strong value proposition by consolidating part of the fragmented DevOps ecosystem and represents an emerging industry leader,” wrote Andrews in a report via Seeking Alpha.

What does JFrog do? JFrog is known for offering a hybrid end-to-end DevOps platform for continuous software release management. The company’s customers are also able to automate workflows for cloud-native/Kubernetes application delivery. When JFrog went public, it jumped 47% on the first day.

Here is a summary from analyst reports for the JFrog stock:

— Key Banc — “Overweight” rating with a price target of $86

— William Blair — “Market Perform” rating

— Stifel — “Hold” rating with a price target of $75

— Morgan Stanley — “Equal Weight” rating with a price target of $67

— JPMorgan — “Overweight” rating

— Piper Sandler — “Neutral” rating with a $76 price target

— Bank of America — “Neutral” rating with an $80 price target

Disclosure: I have a small FROG position in my stock portfolio