JFrog Price Targets Raised to $78 and $74 as Cloud Revenue Hits 50% Growth
Robert W. Baird analyst Shrenik Kothari reiterated a Buy on JFrog, raising its price target to $78 and forecasting mid-teens revenue growth alongside high-20s to low-30s cloud expansion while usage exceeds commitments. Bank of America maintained Buy with a $74 target, highlighting 50% y/y cloud revenue growth in 3Q25.
1. Baird Raises Price Target to $78
Shrenik Kothari at Robert W. Baird reaffirmed a Buy on JFrog and raised the price target to $78, highlighting projections of mid-teens overall revenue growth and high-20s to low-30s cloud revenue expansion. He noted that usage continues to surpass minimum commitments, suggesting upside potential beyond management’s conservative guidance.
2. Bank of America Maintains $74 Target
Bank of America Securities kept a Buy rating on JFrog with a $74 target, emphasizing the accelerating cloud revenue trajectory, which reached 50% year-over-year growth in 3Q25, up from 45% in 2Q25. The firm sees JFrog as a direct beneficiary of AI adoption, citing increased binary creation and risk management needs.
3. Cloud Growth and AI Demand
JFrog’s supply chain platform delivers products such as Artifactory, Xray, Advanced Security, Runtime Security, ML and Distribution to enterprise customers across financial services, healthcare, technology and retail. The company’s tools manage the distribution and security of binaries, positioning it to capitalize on rising code generation and cloud migrations driven by AI demand.