UBS Raises JFrog Target to $110, Keeps Buy Rating

UBS analyst Radi Sultan raised his price target on JFrog Ltd. to $110 from $92 on July 2, keeping a Buy rating on the shares. Sultan said the setup remains attractive despite the stock's recent appreciation, pointing to the company's recurring revenue growth and expanding enterprise customer base.

JFrog, which provides a DevOps platform for software supply chain security, has gained roughly 30% this year. The new target implies about 20% upside from the prior close. Sultan's note follows a period where the stock outperformed many cybersecurity peers, a move he sees as justified by fundamentals.

The analyst's upgrade comes as the cybersecurity sector draws increased attention from institutional buyers. JFrog's focus on binary repository management and artifact security places it in a niche with high switching costs, a factor Sultan highlighted.

AlphaScala's proprietary model does not yet assign a score to FROG, leaving it unscored in the Technology sector. The stock page is available for direct tracking.

Sultan's $110 target is the highest on Wall Street among the 12 analysts covering JFrog, according to data compiled by Bloomberg. The consensus target stands at $95.