Truist Securities has maintained a Buy rating on JFrog Ltd (NASDAQ:FROG) and held its price target at $70.00 after the company released its fiscal year 2025 results. The research house described the company’s year-end performance as a "solid FY25 finish," highlighting cloud revenue strength, consistent security contributions and an uptick in enterprise sales momentum as the primary drivers behind the assessment.
At the time of Truist's note JFrog shares were trading at $54.09, and the stock has returned 41.34% over the past twelve months. Analysts’ target prices for the stock span a range from $64 to $83, reflecting differing views on upside potential relative to current market levels.
On a year-over-year basis JFrog reported revenue growth of 22.69%, paired with gross profit margins of 76.17%. Truist emphasized management’s message that several strategic initiatives - specifically Enterprise GTM, Security and AI - are converging in the marketplace and reinforcing one another, which the firm views as a positive structural development for the company’s go-to-market motion.
Truist also noted that JFrog’s management has taken a conservative stance in setting guidance for fiscal year 2026. The research firm interpreted that conservatism as leaving room for potential upside to official guidance, and subsequently raised its internal estimates while keeping both its Buy rating and $70.00 price target unchanged.
In the company’s fourth-quarter fiscal 2025 results JFrog posted adjusted earnings per share of $0.22, which exceeded the analyst consensus of $0.19. Revenue for the quarter came in at $145.3 million, above the expected $138.09 million. Truist pointed to these beats as evidence of the company’s recent operational strength.
Despite the quarter’s favorable results, the commentary noted that there were no reported analyst upgrades or downgrades tied directly to the report. The combination of above-consensus EPS and revenue, the stated convergence of growth initiatives and management’s cautious guidance together form the basis for Truist’s view that the company may have additional upside potential relative to the market’s current expectations.
Context for investors
Investors and market participants will likely monitor how the company translates its cloud and security momentum into sustained enterprise sales growth, and whether future guidance and reported results continue to justify the maintained Buy rating and $70.00 target.