Morgan Stanley lifts JFrog price target to $114, keeps Equal‑Weight rating
Morgan Stanley raised its price target for JFrog to $114 from $100 while maintaining an Equal‑Weight rating. The firm’s base case assumes FY28 revenue of about $1.02 billion, an operating margin near 24% and a free‑cash‑flow margin around 30%. JFrog’s Q3‑2026 results showed adjusted earnings of $0.32 per share on revenue of $179.2 million, beating expectations.
Why it matters
The higher target reflects Morgan Stanley’s view that JFrog’s growth and profitability will improve, which could support the stock’s price near its 52‑week high. The firm’s base case also upgrades the FY28 EV/FCF multiple to 48×, indicating a more favorable valuation.
Key facts
- 1Morgan Stanley raised its price target to $114 from $100. investing.com
- 2The firm kept an Equal‑Weight rating on JFrog. tradingview.com
- 3Base case assumes FY28 revenue of approximately $1.02 billion. investing.com
- 4Base case assumes FY28 operating margin of approximately 24%. investing.com
- 5Base case assumes FY28 free‑cash‑flow margin of approximately 30%. investing.com
- 6JFrog reported Q3‑2026 adjusted earnings of $0.32 per share. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.