Guggenheim raises JFrog price target to $125 after strong Q3 earnings and cloud revenue growth

Guggenheim analyst Howard Ma raised JFrog's price target to $125, signaling a 67.5% potential upside from its current price of $74.62. JFrog reported strong Q3 2026 results with revenue up 31% year-over-year to $179.2 million, driven by a 60% surge in cloud revenue, now 57% of total revenue. The company beat profit expectations with adjusted earnings of $0.32 per share and raised its full-year revenue forecast to $680-$682 million, reflecting about 28% growth. Despite these positive results, JFrog's stock price fell 13.57% on the day of the report.

JFrog (FROG) shares surged 22.49% to USD 91.40 on Pluang as of Nov 06, 2026 19:32 WIB, rebounding strongly despite the article noting a 13.57% drop on the report day. The stock is trading well above its 52-week low of USD 34.75 and approaching its 52-week high of USD 104.03, with a market cap of $9.15 billion. This price action highlights significant investor interest following the company's strong Q3 results and raised price target by Guggenheim.