JFrog Future Growth
Future criteria checks 1/6
JFrog is forecast to grow earnings and revenue by 24% and 15.9% per annum respectively. EPS is expected to grow by 27.3% per annum. Return on equity is forecast to be 16.8% in 3 years.
Key information
24.0%
Earnings growth rate
27.31%
EPS growth rate
| Software earnings growth | 19.0% |
| Revenue growth rate | 15.9% |
| Future return on equity | 16.77% |
| Analyst coverage | Good |
| Last updated | 01 May 2026 |
Recent future growth updates
Recent updates
FROG: AI Code Surge Will Cement Binary Governance As Core Security Layer
Narrative update on JFrog The updated fair value estimate for JFrog moves slightly lower to $67.80 from $69.65. This reflects recent cuts to Street price targets alongside analyst views that AI related volatility and competitive headlines have reset expectations without changing the core long term role of its binary management platform.FROG: AI Code Surge Will Elevate Binary Governance And Security Importance
Analysts kept JFrog's fair value estimate steady at $69.65 while adjusting underlying assumptions, such as a slightly lower discount rate and modestly refined long term P/E outlook, citing recent AI driven volatility and renewed Buy ratings that highlight its role as a system of record for software artifacts and a potential beneficiary of increased AI generated code and enterprise security needs. Analyst Commentary Recent research focuses heavily on how AI related volatility and new security tools are feeding into JFrog's valuation, with several firms updating ratings and targets after a sharp selloff tied to Claude Code Security headlines.JFrog: The Hidden Infrastructure Play Powering The AI Code Explosion
Apr 06FROG: AI Binary Governance Will Benefit From Rising Agentic Code Volumes
JFrog's updated fair value estimate has been trimmed slightly to $69.65 as analysts balance a modest adjustment to long term profitability assumptions with fresh research highlighting the company's role as a system of record for software artifacts and a potential beneficiary of increased AI generated code volumes. Analyst Commentary Street research has been active on JFrog, with several firms reacting to recent volatility tied to AI security headlines and adjusting their views on the shares and long term positioning.FROG: AI Binary Artifact Focus Will Benefit From Agentic Workload Expansion
Analysts have trimmed their consolidated JFrog price target to $52 from $64, reflecting a modestly higher discount rate and slightly adjusted profit and P/E assumptions after recent AI related volatility. They continue to point to JFrog's core focus on binaries and artifact management as the key rationale behind their updated views.FROG: AI Driven Binary Management Demand Will Support 2026 Outlook
Analysts have nudged their JFrog price target slightly lower to $70 from about $72.50, as they factor in mixed reactions to Claude Code Security, reassess long term P/E assumptions, and continue to highlight JFrog's role in binary management along with its potential benefits from AI driven software development. Analyst Commentary Recent research shows a split view on JFrog, with some firms leaning into the AI driven upside for its core binary management platform, while others trim targets to reflect sector volatility and questions around how new AI security tools fit into the DevSecOps stack.FROG: AI Security Demand And Larger Deals Will Support 2026 Outlook
Analysts have lifted their JFrog price targets, with recent moves from $67 to $70 and then to $80, citing a stronger 2026 setup for software, including expectations for larger deals and rising AI driven security demand. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price targets as reflecting what they view as a constructive setup for software into 2026, with current stock valuations described as low and the sector out of favor.FROG: Cloud And Security Momentum Will Support Stronger Outlook Through 2026
Analysts have nudged their JFrog fair value estimate to US$72.00, reflecting a modestly lower discount rate and slightly higher modeled profit margins in response to recent target hikes across the Street, tied to strong Q3 results, cloud and security momentum, and a more constructive multi year software outlook. Analyst Commentary Recent Street research on JFrog skews constructive, with several firms lifting price targets following Q3 results and updated sector views.FROG: Cloud And Security Execution Will Support Stronger Outlook Through 2026
Analysts have raised their consolidated fair value estimate for JFrog to $72.00 per share, reflecting a series of higher Street price targets tied to stronger Q3 execution, growing cloud and security contributions, and constructive views on software and cybersecurity demand through 2026. Analyst Commentary Bullish Takeaways Bullish analysts are lifting fair value views into a US$70 to US$80 range, pointing to stronger Q3 execution, especially in cloud and security, as support for higher valuation.FROG: Cloud And Security Momentum Will Support Balanced Long Term Outlook
Analysts have raised their price target for JFrog to $70 from $55, citing accelerating cloud momentum, growing security contributions, and converging enterprise growth initiatives that support a stronger long term outlook despite only modest tweaks to discount rate and margin assumptions. Analyst Commentary Recent Street research reflects a broadly positive reassessment of JFrog, with multiple firms lifting price targets following stronger than expected Q3 performance and improving confidence in the company’s cloud and security trajectory.FROG: Cloud And Security Momentum Will Sustain Upside Into Next Year
JFrog's fair value estimate has increased significantly from $56.44 to $69.22. Analysts cite sustained Q3 outperformance, rising cloud and security momentum, and enhanced growth expectations as key drivers behind their higher price targets.JFrog Ltd. (NASDAQ:FROG) Stock Rockets 30% As Investors Are Less Pessimistic Than Expected
Nov 09
FROG: Cloud And Security Will Drive Continued Strong Upside Momentum
JFrog's analyst price target has risen sharply, increasing from $58 to $70 as analysts cite strong Q3 performance and growing confidence in the company's cloud and security-driven growth potential. Analyst Commentary Analyst opinions on JFrog's recent performance and outlook reflect a blend of growing optimism and some remaining caution.AI And Cloud Expansion Will Drive Platform Momentum And Market Reach
JFrog's analyst price target has been raised slightly by $0.63, with analysts citing continued growth momentum, new product offerings, and confidence in the company's outlook as key factors in their updated valuation. Analyst Commentary In recent weeks, JFrog has received several price target increases from analysts, reflecting positive sentiment about the company’s strategic positioning, growth momentum, and product innovation.AI Adoption And Hybrid Cloud Will Unlock New Markets
JFrog's analyst price target increased modestly from $54.88 to $55.81, as analysts cite enhanced confidence in the company's outlook. This is driven by recent product momentum and AI-driven opportunities highlighted at industry conferences.AI Adoption And Hybrid Cloud Will Unlock New Markets
Analysts have raised JFrog’s price target to $54.88, citing increased confidence in its expanding security and platform offerings, strong execution, and resilient recurring revenue growth. Analyst Commentary Increased confidence in JFrog’s market positioning driven by new product announcements, especially the AppTrust solution, expanding the platform’s scope and enhancing Enterprise Plus upgrade incentives.AI Adoption And Hybrid Cloud Will Unlock New Markets
Analysts raised JFrog’s price target to $53.81, citing strong cloud growth, new product innovation (notably AppTrust), expanding cybersecurity initiatives, and greater confidence in its competitive positioning and exposure to AI trends. Analyst Commentary Bullish analysts point to JFrog’s accelerating cloud business, improved recurring revenue, and expanding annual cloud commitments as key drivers behind stronger fundamental performance.AI Adoption And Hybrid Cloud Will Unlock New Markets
The notable increase in JFrog’s future P/E multiple, despite stable revenue growth forecasts, suggests higher investor confidence in future profitability and has driven the consensus analyst price target up from $46.06 to $51.81. What's in the News JFrog provided Q3 2025 revenue guidance of $127–$129 million and full-year guidance of $507–$510 million.Is Now An Opportune Moment To Examine JFrog Ltd. (NASDAQ:FROG)?
Jul 13Estimating The Fair Value Of JFrog Ltd. (NASDAQ:FROG)
Jun 16Here's Why Shareholders Will Not Be Complaining About JFrog Ltd.'s (NASDAQ:FROG) CEO Pay Packet
May 13JFrog Ltd.'s (NASDAQ:FROG) 26% Price Boost Is Out Of Tune With Revenues
May 09JFrog's Operating Losses Remain High As Clients Continue A Slow Transition To Cloud
Apr 22
AI Investments And Cloud Partnerships Will Strengthen Future Market Position
JFrog’s strategy focuses on enterprise subscriptions and cloud partnerships, driving consistent revenue growth through software supply chain tools and cloud services.JFrog: A Tech Stock Leaps And Bounds Above Others
Mar 08JFrog: The Market Is Starting To Catch On To This Excellent Growth Story
Feb 15JFrog: Combination Of Pricing Power And Operating Leverage Should Bode Well
Jan 31JFrog: Great Value In This Software Growth Story
Jan 14Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 905 | -7 | 290 | N/A | 4 |
| 12/31/2027 | 735 | -58 | 191 | 198 | 20 |
| 12/31/2026 | 628 | -80 | 152 | 154 | 20 |
| 12/31/2025 | 532 | -72 | 142 | 146 | N/A |
| 9/30/2025 | 503 | -80 | 141 | 144 | N/A |
| 6/30/2025 | 475 | -86 | 139 | 142 | N/A |
| 3/31/2025 | 451 | -79 | 119 | 122 | N/A |
| 12/31/2024 | 428 | -69 | 108 | 111 | N/A |
| 9/30/2024 | 410 | -57 | 91 | 94 | N/A |
| 6/30/2024 | 389 | -48 | 90 | 93 | N/A |
| 3/31/2024 | 370 | -49 | 90 | 93 | N/A |
| 12/31/2023 | 350 | -61 | 72 | 74 | N/A |
| 9/30/2023 | 329 | -73 | 47 | 49 | N/A |
| 6/30/2023 | 313 | -83 | 25 | 28 | N/A |
| 3/31/2023 | 296 | -91 | 12 | 15 | N/A |
| 12/31/2022 | 280 | -90 | 17 | 21 | N/A |
| 9/30/2022 | 263 | -90 | 27 | 32 | N/A |
| 6/30/2022 | 244 | -87 | 5 | 9 | N/A |
| 3/31/2022 | 225 | -76 | 19 | 24 | N/A |
| 12/31/2021 | 207 | -64 | 23 | 28 | N/A |
| 9/30/2021 | 190 | -45 | 18 | 23 | N/A |
| 6/30/2021 | 175 | -30 | 47 | 52 | N/A |
| 3/31/2021 | 163 | -17 | 36 | 40 | N/A |
| 12/31/2020 | 151 | -9 | 26 | 29 | N/A |
| 9/30/2020 | 139 | -6 | 18 | 21 | N/A |
| 6/30/2020 | 128 | -4 | 13 | 15 | N/A |
| 3/31/2020 | 114 | -5 | 6 | 9 | N/A |
| 12/31/2019 | 105 | -5 | 8 | 10 | N/A |
| 12/31/2018 | 64 | -26 | N/A | 9 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FROG is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: FROG is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: FROG is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: FROG's revenue (15.9% per year) is forecast to grow faster than the US market (11.3% per year).
High Growth Revenue: FROG's revenue (15.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FROG's Return on Equity is forecast to be low in 3 years time (16.8%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/06 23:15 |
| End of Day Share Price | 2026/05/06 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
JFrog Ltd. is covered by 28 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Shrenik Kothari | Baird |
| Raimo Lenschow | Barclays |
| Ryan MacWilliams | Barclays |