Shrenik Kothari, an analyst from Robert W. Baird, maintained the Buy rating on JFrog. The associated price target remains the same with $58.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors, primarily driven by JFrog’s impressive financial performance in the third quarter of 2025. The company reported significant growth in billings and total revenue, surpassing consensus estimates by notable margins. This strong performance was largely fueled by a substantial increase in cloud revenue, which grew 50% year-over-year, indicating robust demand for JFrog’s cloud solutions.
Furthermore, JFrog’s guidance for the fourth quarter and the full fiscal year 2025 was raised, suggesting continued confidence in its growth trajectory. The company also demonstrated strong customer acquisition, particularly among high-value accounts, and maintained a solid net dollar retention rate. With minimal exposure to federal shutdown risks and strategic positioning in AI-native expansion and secure software supply chains, Kothari views JFrog as a compelling investment opportunity heading into fiscal year 2026.
In another report released on November 3, D.A. Davidson also reiterated a Buy rating on the stock with a $60.00 price target.