JFrog's (FROG) Q4 sales topped expectations, driven by a 37% jump in cloud revenue, while enterprise deals and cloud migration trends will bolster H2, Morgan Stanley said Friday in a report.
The security segment contributed 3% to revenue and 12% to remaining performance obligations by the end of 2024 and growth in the segment positions JFrog as a multiproduct company in the market for development, security and operations, the report said.
JFrog is prioritizing larger enterprise customers, leading to churn among smaller accounts with a loss of 740 lower-dollar subscription customers with a gain of 640 higher-value customers, Morgan Stanley said.
The company expects flat operating margins and decreased cash flow margins in 2025 with 17% revenue growth, the report said.
Morgan Stanley raised its price target on JFrog's stock to $44 from $36 and kept its overweight rating.
JFrog shares rose 5.9% in recent Friday trading.
Price: 39.93, Change: +2.22, Percent Change: +5.89
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。