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JFrog Climbs 14% in a Month: Is it the Right Time to Buy the Stock?
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JFrog Ltd. (FROG - Free Report) shares have risen 13.6% in the past month, outperforming the Zacks Internet - Software industry and the S&P500 index’s return of 10.5% and 2%, respectively, and the Zacks Computer and Technology sector’s decline of 0.1%.
As a leading provider of open-source, self-managed SaaS services, FROG is experiencing strong customer loyalty and expansion potential with a gross retention rate of 97%, and Net Dollar Retention of 117% as reported in third-quarter 2024 results. With all these factors in the backdrop, investors are left wondering: Is it time to buy the stock?
FROG Gains From Strong Traction in its Solutions
The software supply chain market in which JFrog operates is evolving with customers demanding that every step — from development to distribution and production — is secure, traceable and unified. To fill this market gap, JFrog launched JFrog ML, the first solution to combine DevOps, DevSecOps and MLOps in one platform. FROG launched another solution, namely JFrog Runtime Security, which is focused on providing full visibility from development to production.
FROG One-Month Price Performance Chart
Image Source: Zacks Investment Research
FROG’s JFrog ML and Runtime Security solutions are expected to gain traction among customers as they fulfill the criteria of secured, traceable and unified software development platform. FROG is also gaining prominence with its other unified DevSecOps offerings like JFrog Advanced Security and JFrog Curation, which helped the company in securing several deals.
FROG’s strategy to move DevOps to the cloud and increased cloud migration trend among enterprises have enabled the company to grow cloud revenues at a high rate. For the entirety of 2024, JFrog projected that its cloud revenues are set to witness a growth of around 40%. The Zacks consensus Estimate for JFrog’s 2024 total revenues is pegged at $426.6 million, indicating 21.9% year-over-year growth.
The Zacks Consensus Estimate for 2025 revenues and earnings depicts continued growth in the near term.
Image Source: Zacks Investment Research
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
JFrog Benefits From Strong Partnerships
JFrog has partnerships with Microsoft (MSFT - Free Report) Azure, Amazon’s (AMZN - Free Report) amazon Web Services ("AWS"), and Google Cloud enabling its customers to transition among all major cloud platforms. In 2024, FROG has also collaborated with NVIDIA (NVDA - Free Report) and Microsoft’s GitHub to build improved software development platforms.
JFrog’s partnership with MSFT, AMZN and Google allows it to list its solutions across AWS Marketplace, Azure Marketplace and Google Cloud Marketplace. JFrog’s partnership with NVIDIA to integrate NVIDIA's NIM in its solutions enables organizations to deploy secure machine learning and large language models more efficiently.
FROG and Microsoft’s GitHub have partnered to create a unified platform that offers developers Single Sign-On, Bi-Directional Linking, Integrated CI/CD and Unified Security View in the software development environment. JFrog’s partnership with the industry giants strengthen its business and ensures availability of its product across multiple platforms for greater visibility among potential customers.
50-Day & 200-Day SMA Suggest Bullish Trend
JFrog shares are trading above the 50-day and 200-day moving averages, indicating a bullish trend.
FROG 50-Day & 200-Day SMA Chart
Image Source: Zacks Investment Research
Conclusion: Buy FROG Now
JFrog is focused on providing unified platform for development, operations and security, which is in high demand in the marketplace. Partnerships with industry leaders not only strengthen its offerings but also enables FROG to list them in leading marketplaces increasing their visibility among customers. FROG is also gaining massively from cloud migrations among its enterprise customers. For those seeking to capitalize on this opportunity should buy this Zacks Rank #2 (Buy) stock for long-term rewards. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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JFrog Climbs 14% in a Month: Is it the Right Time to Buy the Stock?
JFrog Ltd. (FROG - Free Report) shares have risen 13.6% in the past month, outperforming the Zacks Internet - Software industry and the S&P500 index’s return of 10.5% and 2%, respectively, and the Zacks Computer and Technology sector’s decline of 0.1%.
As a leading provider of open-source, self-managed SaaS services, FROG is experiencing strong customer loyalty and expansion potential with a gross retention rate of 97%, and Net Dollar Retention of 117% as reported in third-quarter 2024 results. With all these factors in the backdrop, investors are left wondering: Is it time to buy the stock?
FROG Gains From Strong Traction in its Solutions
The software supply chain market in which JFrog operates is evolving with customers demanding that every step — from development to distribution and production — is secure, traceable and unified. To fill this market gap, JFrog launched JFrog ML, the first solution to combine DevOps, DevSecOps and MLOps in one platform. FROG launched another solution, namely JFrog Runtime Security, which is focused on providing full visibility from development to production.
FROG One-Month Price Performance Chart
Image Source: Zacks Investment Research
FROG’s JFrog ML and Runtime Security solutions are expected to gain traction among customers as they fulfill the criteria of secured, traceable and unified software development platform. FROG is also gaining prominence with its other unified DevSecOps offerings like JFrog Advanced Security and JFrog Curation, which helped the company in securing several deals.
FROG’s strategy to move DevOps to the cloud and increased cloud migration trend among enterprises have enabled the company to grow cloud revenues at a high rate. For the entirety of 2024, JFrog projected that its cloud revenues are set to witness a growth of around 40%. The Zacks consensus Estimate for JFrog’s 2024 total revenues is pegged at $426.6 million, indicating 21.9% year-over-year growth.
The Zacks Consensus Estimate for 2025 revenues and earnings depicts continued growth in the near term.
Image Source: Zacks Investment Research
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
JFrog Benefits From Strong Partnerships
JFrog has partnerships with Microsoft (MSFT - Free Report) Azure, Amazon’s (AMZN - Free Report) amazon Web Services ("AWS"), and Google Cloud enabling its customers to transition among all major cloud platforms. In 2024, FROG has also collaborated with NVIDIA (NVDA - Free Report) and Microsoft’s GitHub to build improved software development platforms.
JFrog’s partnership with MSFT, AMZN and Google allows it to list its solutions across AWS Marketplace, Azure Marketplace and Google Cloud Marketplace. JFrog’s partnership with NVIDIA to integrate NVIDIA's NIM in its solutions enables organizations to deploy secure machine learning and large language models more efficiently.
FROG and Microsoft’s GitHub have partnered to create a unified platform that offers developers Single Sign-On, Bi-Directional Linking, Integrated CI/CD and Unified Security View in the software development environment. JFrog’s partnership with the industry giants strengthen its business and ensures availability of its product across multiple platforms for greater visibility among potential customers.
50-Day & 200-Day SMA Suggest Bullish Trend
JFrog shares are trading above the 50-day and 200-day moving averages, indicating a bullish trend.
FROG 50-Day & 200-Day SMA Chart
Image Source: Zacks Investment Research
Conclusion: Buy FROG Now
JFrog is focused on providing unified platform for development, operations and security, which is in high demand in the marketplace. Partnerships with industry leaders not only strengthen its offerings but also enables FROG to list them in leading marketplaces increasing their visibility among customers. FROG is also gaining massively from cloud migrations among its enterprise customers. For those seeking to capitalize on this opportunity should buy this Zacks Rank #2 (Buy) stock for long-term rewards. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.