JFrog emerges as prime way to play AI coding agent demand: analysts
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JFrog (FROG) reported a 50% year-over-year increase in cloud revenue, positioning itself as a key player in the growing demand for AI coding agents. Analysts from Morgan Stanley and Truist Securities maintained positive ratings, raising price targets to $80, citing strong growth in enterprise sales and cloud efficiencies. Morgan Stanley noted a sustainable net retention rate of 120% and momentum in security offerings. Piper Sandler kept a Neutral rating with a $65 target, highlighting improved execution but awaiting more evidence of long-term outperformance. Competitor GitLab (GTLB) saw a slight decline in trading.
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