JFrog price target lowered to $31 from $36 at Needham

Needham lowered the firm’s price target on JFrog to $31 from $36 and keeps a Buy rating on the shares. The company’s Q3 results demonstrated a re-acceleration to the Cloud business, fueled by larger customers and increased co-selling through marketplaces, the analyst tells investors in a research note. The management also noted that operations continue to run smoothly despite the geopolitical concerns in Israel, the firm notes, adding however that its reduced price target reflects lower-valuation market environment.