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Research Alert: CFRA Maintains Buy Rating On Shares Of Jfrog Ltd.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our target price to $79 from $61. This is based on a forward EV/S multiple of 13x our 2027 sales projection of $741M, above its three-year average. We raise our 2026 EPS view to $0.97 from $0.92 and our 2027 EPS forecast to $1.12 from $1.10. FROG reported solid Q1 beats, with total revenue of $154M, up 26% Y/Y and exceeding expectations, driven by cloud revenue of $78.9M (up 50% Y/Y), which crossed 51% of total revenue for the first time. Self-managed revenue grew 8% to $75.1M. The company is benefitting from AI tailwinds through accelerating cloud adoption and expanding enterprise relationships, evidenced by 120% net dollar retention during the quarter. Despite competitive risks, we believe FROG's platform remains highly relevant in an AI environment as a system of record managing both legacy binaries and AI-generated artifacts. FROG also announced its first $300M share repurchase authorization.

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