JFrog price target raised to $55 from $45 at DA Davidson

DA Davidson raised the firm’s price target on JFrog to $55 from $45 and keeps a Buy rating on the shares. The company reported an “outstanding quarter” that significantly exceeded investor expectations while its cloud growth rapidly accelerated, the analyst tells investors in a research note. JFrog’s enterprise sales motion is driving adoption and leading to numerous net new $1M annual recurring revenue customers, the firm added.