Raymond James has initiated coverage on JFrog (FROG, Financial) with an Outperform rating, setting a price target of $40. The firm identifies several emerging factors that could significantly enhance the company's market valuation. Key growth drivers include advancements in security, artificial intelligence, and enterprise solutions.
The analyst from Raymond James highlights that JFrog has only captured approximately 1% of its total addressable market. As the industry shifts towards prebuilt DevSecOps solutions, there is considerable potential for JFrog to scale into a multi-billion-dollar enterprise.
This early-stage industry consolidation presents an opportunity for JFrog to expand its market share and capitalize on the increasing demand for integrated development and security operations tools.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for JFrog Ltd (FROG, Financial) is $45.16 with a high estimate of $50.00 and a low estimate of $33.71. The average target implies an upside of 48.60% from the current price of $30.39. More detailed estimate data can be found on the JFrog Ltd (FROG) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, JFrog Ltd's (FROG, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for JFrog Ltd (FROG, Financial) in one year is $41.77, suggesting a upside of 37.45% from the current price of $30.39. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the JFrog Ltd (FROG) Summary page.
