Raymond James has its eye on two software stocks it says are worth watching: JFrog (NASDAQ:FROG) and Confluent (NASDAQ:CFLT). Both are deep in cloud and data tech and analyst Mark Cash thinks they're set up well for long-term growth.
JFrog focuses on DevOps and software automation. In Q4 2024, it reported $116.1 million in revenue, a 19% year-over-year increase, and $0.19 in non-GAAP earnings per share. The company also posted nearly $50 million in free cash flow and wrapped up the year with $522 million in cash and liquid assets. With over 7,300 customers including most Fortune 100 companies JFrog's reach is strong.
Then there's Confluent. It powers real-time data streaming helping retailers, banks, and manufacturers move and process information fast. Confluent pulled in $261.2 million in Q4 revenue, growing 22.5% from a year earlier. Earnings came in at $0.09 per share, beating forecasts.
Raymond James believes both companies are in the right place at the right time, citing rising demand for data, cloud, and AI integration. Both stocks were rated Outperform, signaling positive expectations for the year ahead.
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