Cantor Fitzgerald has again maintained an Overweight recommendation for JFrog (NASDAQ:FROG) and left its price objective at $80.00 as the software company approaches its fourth-quarter 2025 earnings release on February 12. The investment bank notes that the $80.00 target equates to a roughly 56% increase from the prevailing share price of $51.26, which fell 13.8% over the last week.
The firm acknowledges a challenging comparative base against fourth-quarter 2024, when JFrog closed three large deals, but nonetheless keeps a bullish stance. Cantor Fitzgerald highlights continued artificial intelligence-driven usage as a key tailwind, along with contract renegotiations that it expects will help produce a meaningful upside versus current expectations. The firm describes the guidance environment as largely de-risked.
Looking toward fiscal year 2026, Cantor Fitzgerald anticipates JFrog will guide to roughly 17-18% revenue growth, a pace the firm says is modestly above consensus. That projected trajectory sets up what Cantor views as a beat-and-raise pattern through 2026.
In the firm’s view, JFrog’s longer-term expansion is anchored by its Artifactory product, with emphasis on growing Enterprise+ adoption, accelerating cloud revenue, and monetizing enhanced security capabilities. These priorities form the backbone of Cantor Fitzgerald’s positive outlook.
Other sell-side analysts have also issued viewpoints ahead of JFrog’s results. KeyBanc reiterated an Overweight stance, expressing optimism that the company could exceed an expected 19% revenue increase in the fourth quarter. UBS maintained a Neutral rating, modeling a potential 2.8% revenue beat that would imply 22.6% year-over-year growth. Needham reiterated a Buy rating, stressing JFrog’s role in securing the software supply chain and pointing to the importance of security following a major attack on the npm ecosystem last year.
Across the analyst commentary, common themes include expanding enterprise adoption and accelerating cloud momentum as contributors to JFrog’s financial performance. The range of views reflects continued interest from the analyst community while showing differences in near-term revenue expectations and ratings.
As JFrog moves toward its earnings release, Cantor Fitzgerald’s stance centers on AI-driven usage growth, contract renewals, and Artifactory-led expansion as the primary drivers of outperformance. Market participants will be watching the company’s Q4 print and fiscal 2026 guidance to see whether the expected beat-and-raise pattern materializes.