Truist raised the firm’s price target on JFrog to $50 from $41 and keeps a Buy rating on the shares. The highlight of the company’s earnings beat and above-consensus guide was the significant outperformance in their SaaS business, at 59% growth versus the firm’s estimate of 42%, the analyst tells investors in a research note. JFrog is also leaning into their enterprise sales motion, with new products coming online that they expect to be material contributors in the year ahead, the firm added.
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