JFrog price target raised to $52 from $42 at Morgan Stanley

Morgan Stanley raised the firm’s price target on JFrog to $52 from $42 and keeps an Overweight rating on the shares. Cloud accelerated for second quarter in a row, but this time “much more explosively,” which “puts a major dent in the bear case” that JFrog will be left out of the stack as the software release process moves to the cloud, the analyst tells investors. Following “a clean beat and raise” quarter, the firm thinks FY24 revenue and cloud estimates “could prove conservative,” the analyst added.