JFrog ( FROG Quick Quote FROG - Free Report) recently announced a partnership with the Rust Foundation, an independent non-profit organization, which formed the Rust programming language.
JFrog will identify and eliminate security threats faced by the Rust platform and ecosystem, and amend Rust platform issues to prevent further risks.
With the advent of internet of things (IoT), cloud computing and big data, cyber security threats are also increasing. Rust Programming language has tripled its usage to 2.2 million developers over the past two years.
JFrog’s collaboration with the non-profit organization reflects its strategy to benefit from the recent adoption of security solutions covering organizations’ software supply-chain. However, to gain from this rising trend, many software companies are operating in this domain and JFrog is facing fierce competition.
To deal with the rising competition, FROG is strategically expanding the selling opportunity via collaboration with certain key partners and channels like
Microsoft ( MSFT Quick Quote MSFT - Free Report) , Amazon ( AMZN Quick Quote AMZN - Free Report) and Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google cloud. JFrog Expands Partner Base to Drive Top Line
JFrog reported total revenues of $67.8 million in the second quarter of 2022, up 39% year over year, driven by momentum in its cloud business as many businesses are participating in cloud migration.
However, FROG’s shares are depreciating due to bearish sentiments stemming from apprehensions about the prospects of Internet-based stocks. This is because economies started reopening after coronavirus-induced lockdowns and restrictions too were lifted globally. Macroeconomic challenges, including rising inflation and the Russia-Ukraine conflict, reflected negatively on the share price movement.
JFrog’s shares have slumped 42.7% in the year-to-date period.. The Zacks
Internet Software industry has declined 60.1% in the same time period.
JFrog, currently carrying a Zacks Rank #3 (Hold), took a top-down selling approach, which will help indirectly gain access to potential customers with its strategic partnerships and bolster its customer growth. You can see
the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
FROG recently partnered with Microsoft Teams collaboration platform for its binary repository solution Artifactory and security solution Xray.
JFrog’s partnership with Microsoft Teams is in sync with its strategic goal to empower developers with solutions, enabling efficient, cross-team communication on platforms they are already using while reducing security vulnerabilities.
FROG recently partnered with Amazon’s Web services (AWS) to support their game initiatives. JFrog also chose AWS as one of its key DevOps partners. The integration with AWS will benefit JFrog’s already existing customers like the gaming platform Ubisoft with combined services from AWS and JFrog.
JFrog recently collaborated with Alphabet’s Google and integrated its Artifactory solutions with Google Cloud Build. This will help developers build software faster across different languages on the Google Cloud Platform.
The recent integration with different platforms is anticipated to drive JFrog’s customer base, which will impact the top line positively in the coming quarters. This, in turn, will help FROG achieve its 30% plus revenue growth goal for the foreseeable future.