Baird starts ‘well positioned’ JFrog with an Outperform

As previously reported, Baird initiated coverage of JFrog with an Outperform rating and $32 price target. JFrog, which has “rapidly evolved from a developer-focused startup to a DevSecOps leader, is “uniquely positioned to capitalize on the accelerating need for secure, scalable software delivery across on-premise/cloud/hybrid environments,” the analyst tells investors. With 42% cloud growth, expanding security offerings, and penetration of 83% of the Fortune100, the firm views JFrog as “well positioned for sustained growth” and margin expansion, the analyst added.