Oppenheimer analyst Ittai Kidron raised the firm’s price target on JFrog to $41 from $35 and keeps an Outperform rating on the shares. The firm believes JFrog offers an underappreciated platform growth story that can drive share outperformance in 2024. The company continues to enjoy a leadership position within its core binary management space, and its expansion into DevSecOps can help accelerate adoption by enabling customers to consolidate their spend on point solutions. Oppenheimer believes this offers an incremental growth avenue that can help expand NDRR and help the company sustain 20%-plus revenue growth.
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