Key Takeaways
- JFrog shares rose 6% today after BofA raised its price target to $115 from $105 and kept its Buy rating.
- This is the second Buy-rated target raise to $115 in three days, and JFrog’s recent results suggest the optimism is earned.
- Analysts’ consensus price target for JFrog has about doubled over the past year to $113, and they expect revenue to reach $915 million by 2028.
- JFrog reports third-quarter results on Nov. 5, and at its current valuation it needs to beat estimates again.
JFrog (FROG) stock jumped 6% today after BofA raised its price target to $115 from $105 and kept its Buy rating. The note was a preview of software’s third-quarter earnings season.
It’s the second Buy-rated target hike to $115 in three days, and it came as security and infrastructure software stocks extended their rally.
Wall Street keeps raising the bar
Truist got there first, lifting its target to $115 from $110 on Wednesday.
Both moves are part of a much bigger trend. Analysts’ consensus target for JFrog has about doubled over the past year, from $56 to $113, and the highest target on the Street is now $125.
The business is backing it up
The optimism looks earned. JFrog’s revenue grew 29% year over year to $163.8 million in the second quarter, and cloud revenue rose 53%. That was well above management’s own guidance of $154 million to $156 million. JFrog then raised its full-year revenue outlook to between $648 million and $652 million, up from $628 million to $632 million.
Analysts expect plenty more growth from here. They see revenue climbing from $532 million in 2025 to $915 million by 2028.
The $651 million consensus for 2026 already sits near the top of that guidance range, so Wall Street is counting on another strong quarter.
JFrog is also leaning harder into security. At its swampUP Europe conference on Wednesday, it unveiled AI-SEC, which it says gives companies control over every AI agent, skill and model, from developer to production. It also added tools that produce signed compliance evidence for every software release.
TIKR Tracks 23 Analysts on JFrog. How Many Say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on JFrog, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See JFrog’s Analyst Ratings
Priced for another beat
JFrog reports third-quarter results on Thursday, Nov. 5, after the close. It has guided revenue to between $164 million and $166 million, barely above what it actually did in the second quarter, so it has left itself plenty of room to beat again.
The valuation is the risk. JFrog traded at about 95x forward earnings at yesterday’s close, and today’s jump takes it to about 100x.
I think the analysts have it right. JFrog keeps beating its own numbers, and management says AI is pushing more software through its platform. But at that multiple, anything less than another beat-and-raise on Nov. 5 could send the stock down fast.
So what is JFrog stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
