Guggenheim increased its JFrog Ltd. price target to $105 from $80. The firm maintained its buy rating on the stock. This new target suggests a 21% upside from the previous closing price.
Analysts expect accelerating cloud revenue growth to drive the software company’s performance. Wall Street sentiment remains bullish regarding JFrog’s prospects in AI-driven software development.
The revision precedes JFrog’s second-quarter earnings report scheduled for early August. Several other firms have also issued positive notes on the company in recent weeks.