JFrog (FROG) is expected to see another "solid" quarter aided by a steady Artifactory consumption, growing Curation adoption, and minimal operational disruption from the Iran conflict, Oppenheimer said in a note Thursday.
The brokerage said it expects a 2% to 4% Q1 revenue upside to consensus estimate of $147.5 million, while the company's $300 million share repurchase program will see limited activity on account of the 30-day creditor objection period per Israeli regulation.
Recent artificial intelligence-driven concerns related to the stock are "overly bearish," analysts said, adding that they continue to view AI as a strong 2026 Artifactory consumption driver for core enterprise expansion.
JFrog hasn't experienced material operational impact from the Iran conflict and, if needed, has contingency plans in place, like relocation management and shifting R&D activity to other regions, according to the note.
The company is scheduled to report its Q1 financial results on May 7.
Oppenheimer has an outperform rating on the stock, and lowered its price target to $63 from $75.
Shares of JFrog were down 6.5% in Thursday trading.
Price: $43.78, Change: $-3.03, Percent Change: -6.47%