The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top Upgrades: Citi upgraded Ralph Lauren (RL) to Buy from Neutral with a price target of $400, up from $360. The firm expects the company to report a fiscal Q4 beat and says the year-to-date share selloff offers an "attractive buying opportunity." BofA upgraded CoreWeave (CRWV) to Buy from Neutral with a $100 price target aft ...

JFrog Unveils Universal MCP Registry, Delivering a Secure System of Record for the AI-Driven Software Supply Chain Mar 18, 2026 9:15 AM Eastern Daylight Time JFrog Unveils Universal MCP Registry, Delivering a Secure System of Record for the AI-Driven Software Supply Chain SUNNYVALE, Calif.--(BUSINESS WIRE)-- JFrog Ltd(Nasdaq: FROG), the Liquid Software company and creators of the JFrog Software Supply Chain Platform, the system of record for software artifacts, binaries, and AI assets, today introduced its ...

JFrog Conference Call Summary Company Overview - **Company**: JFrog (NasdaqGS:FROG) - **Date**: March 11, 2026 - **Key Speakers**: Ed Grabscheid (CFO), Jeff Schreiner (IR) Industry Context - The discussion revolves around the cybersecurity and software supply chain industry, particularly focusing on the implications of AI advancements and competition from companies like Anthropic. Key Points and Arguments Market Reaction and Competition - JFrog's stock experienced a 25% decline following Anthropic's announcement of Claude Code, which was perceived as a competitive threat [1] - A large customer in the telecommunications sector was consulted to gauge market sentiment [1] Differentiation in Security - JFrog emphasizes the distinction between source code security and binary security, highlighting that binaries are exposed in the wild while source code is protected behind firewalls [3][4] - The company argues that reliance solely on source code security is insufficient, as vulnerabilities can still exist in binaries [4][5] - JFrog positions itself as the "plumbing" of software infrastructure, essential for governance and enforcement of security policies [5][7] Adoption of Security Products - Approximately 3,000 users are currently utilizing JFrog's Xray product, which is foundational for security scanning [21] - Advanced Security and Curation are add-on products, with hundreds of customers currently using them, contributing to 16% of RPO, 10% of ARR, and 7% of total revenue [21][22] - There is a noted momentum in the adoption of Advanced Security as companies consolidate point solutions into JFrog's offerings [22] Growth in SaaS Revenue - JFrog reported a 42% growth in SaaS revenue for Q4 and a 45% year-over-year growth for the year [44][45] - The increase in usage beyond minimum commitments is attributed to a push for innovation and the emergence of AI package types [45][46] - The growth is broad-based across industries, with 80%+ of Fortune 100 companies as customers [46] Customer Commitment and Guidance - JFrog is working to convert customers exceeding minimum commitments into higher annual commitments, which would provide better visibility for future guidance [47][49] - The company has adjusted its guidance philosophy to exclude large deals and usage over minimum commitments to establish a conservative growth floor of 31% year-over-year for cloud services [51][53] Future Opportunities and AI Integration - JFrog is exploring the potential for AI models to directly generate binaries, which could increase the importance of binary management [32][34] - The company is positioning itself as a universal platform for AI model storage and distribution, with existing relationships with top AI companies like NVIDIA [40][41] Governance and Compliance - JFrog is introducing governance solutions to help customers maintain records of their software development processes, addressing the need for compliance and security in AI model development [68][70] Strategic Actions - In response to market volatility, JFrog initiated a $300 million buyback program to leverage its strong cash flow and counteract negative market perceptions [62] - The company is focused on execution and maintaining its position in the market amidst competitive pressures from AI advancements [63][64] Additional Insights - The conversation highlighted the complexity of software security and the need for a nuanced understanding of the interplay between source code and binary security [25][64] - JFrog's approach to governance and security is seen as a critical differentiator in a rapidly evolving market landscape [68][70]

JFrog FY Conference Summary Company Overview - **Company**: JFrog (NasdaqGS:FROG) - **Industry**: Infrastructure and Security Software Key Points Company Vision and Market Opportunity - JFrog was founded 15 years ago to manage binaries, which are critical to the software supply chain, as DevOps practices accelerated the need for organized and secure binary repositories [6][7] - The company has evolved from a point solution to a full platform, with over 56% of revenue now coming from Enterprise+ solutions [11] Business Segments and Growth Drivers - **Cloud Segment**: Achieved 45% growth in 2025, driven by diverse customer usage exceeding minimum commitments [13] - **Self-Managed Segment**: Monetized through the number of servers rather than developer seats, providing a competitive advantage [14] - **Security Segment**: Security offerings have doubled as a percentage of Annual Recurring Revenue (ARR) from 5% in 2024 to 10% in 2025, indicating strong growth [31] Financial Performance and Guidance - JFrog has a 97% gross retention rate, indicating strong customer loyalty and commitment to multi-year contracts [78] - The company has shifted its guidance philosophy to focus on cloud commitments, excluding usage over minimum commitments and large deals, to account for revenue volatility [26][30] Security Business Insights - The security business has seen rapid growth due to increased awareness of vulnerabilities in the software supply chain, particularly after high-profile security incidents [36][37] - JFrog's security products, including Curation and Advanced Security, are designed to protect against vulnerabilities and manage software supply chain risks [35][41] Market Position and Competitive Landscape - JFrog positions itself as a system of record for AI and software supply chains, emphasizing the importance of governance and compliance in security [59][62] - The company believes it is defendable against AI disruptions due to its established infrastructure and integration capabilities with various tools [92][93] Future Outlook - JFrog aims to continue delivering durable growth while balancing profitability and investment in key areas such as governance and compliance [102] - The company is optimistic about the potential for its governance product, AppTrust, to gain traction in the market [69] Additional Insights - JFrog's approach to security emphasizes the need for centralized policy control, allowing organizations to manage what packages are allowed into their systems [95] - The company remains focused on its core objectives despite external market chaos, indicating a commitment to long-term growth strategies [102] This summary encapsulates the key insights from JFrog's FY conference, highlighting the company's strategic direction, financial performance, and market positioning within the infrastructure and security software industry.

Core Viewpoint - JFrog's management team, including CEO Shlomi Ben Haim and CFO Ed Grabscheid, is participating in the TMT Conference, highlighting the company's ongoing engagement with investors and the market [1]. Company Engagement - JFrog has been a consistent participant in the TMT Conference since going public, indicating a commitment to maintaining investor relations and showcasing its business strategy [1].

JFrog Conference Call Summary Company Overview - **Company**: JFrog (NasdaqGS:FROG) - **Event**: 2026 Conference on March 02, 2026 - **Speakers**: Shlomi Ben Haim (CEO), Eduard Grabscheid (CFO) Key Points Industry Context - The software industry is experiencing significant uncertainty, prompting investors to reassess the value creation of software companies [4][5] - JFrog is positioned as a leader in software supply chain management, focusing on security, governance, and automation [5][11] Core Value Proposition - JFrog serves as a system of record for binaries, ensuring security and compliance in software supply chains [5][10] - The company addresses the shift in threats from source code to binaries, highlighting the importance of protecting binaries in the software supply chain [11][49] Market Dynamics - The rise of AI in software development is changing customer needs, with a focus on securing AI artifacts and models [6][12] - JFrog's platform is seen as essential for managing the increasing complexity of software development, especially with the integration of multiple AI agents [13][19] Financial Performance and Guidance - JFrog announced a $300 million share repurchase program to stabilize stock value following a significant decline [20][21] - For fiscal year 2026, JFrog guided total revenue growth of 17%-18%, with cloud business expected to grow between 30%-32% [22][23] - The company is optimistic about performance due to increased usage and momentum in the security business [23][48] Customer Dynamics - JFrog's strategy focuses on enterprise customers, with a notable increase in million-dollar customer cohorts by 42% [56][60] - The company is experiencing a decline in total customer count due to pruning lower-value accounts, but net revenue retention (NRR) stands at 119% [58][60] Security Business Growth - Security now accounts for 10% of annual recurring revenue (ARR), up from 5% last year, and 16% of remaining performance obligations (RPO) [46][48] - JFrog is positioned to capitalize on the growing need for comprehensive software supply chain security solutions [49][51] Future Outlook - The evolution of AI will necessitate stronger governance and enforcement in software development, which JFrog is prepared to address [30][31] - The company anticipates a shift towards a more integrated software development lifecycle, potentially leading to further consolidation in the market [38][41] Strategic Positioning - JFrog aims to be the foundational platform in the software supply chain, differentiating itself from point solutions that may become commoditized [41][46] - The company emphasizes the importance of being a system of record, which is critical for long-term customer retention and value [41][45] Conclusion - JFrog is navigating a complex landscape with a strong focus on security and governance in software supply chains, positioning itself for growth amid evolving market dynamics and customer needs [19][30][49]

What happened According to an SEC filing dated February 17, 2026, Anatole Investment Management Ltd established a new position in JFrog (NASDAQ:FROG), acquiring 1,385,795 shares during the fourth quarter of 2025. The estimated transaction value is approximately $86.56 million, calculated using the average price for the quarter. The quarter-end value of the stake, including price changes, also stands at $86.56 million. What else to know This new position represents 14.43% of Anatole's 13F reportable AUM ...

Core Insights - JFrog Ltd (NASDAQ: FROG) has a price target set by Evercore ISI at $80, indicating significant potential upside from its current trading price of $41.59 [1][5] Financial Performance - JFrog reported fiscal 2025 revenue of $531.8 million, reflecting a 24% increase from the previous year [3][5] - Cloud revenue surged by 45% to $243.3 million, highlighting a key growth area for the company [3][5] - The company achieved fourth-quarter adjusted earnings of 22 cents per share, exceeding expectations [3][5] Stock Activity - Following the announcement of a $300 million share repurchase program, FROG's stock price increased by 7.22% to $41.56 [2][5] - The stock has shown volatility, with a daily trading range between $39.93 and $42.73, and a yearly high of $70.43 and low of $27 [4] - JFrog's market capitalization is approximately $4.97 billion, with a trading volume of 4,307,698 shares on the NASDAQ exchange [4]

JFrog Ltd (NASDAQ:FROG) shares are up on Thursday following the announcement of a $300 million share repurchase program. This move reflects the company’s confidence in its strategy and growth potential, adding pressure as broader markets edged lower. • JFrog stock is showing exceptional strength. Why are FROG shares rallying?JFrog Announces $300M Share BuybackJFrog's board has authorized a share repurchase program of up to $300 million, signaling confidence in the company's financial position and long-term ...

Core Insights - JFrog's Board of Directors has authorized a share repurchase program of up to $300 million of the Company's ordinary shares [1] Company Actions - The share repurchase program indicates the Company's confidence in its financial position and future growth prospects [1] - The decision to initiate a buyback program may also reflect the Company's strategy to enhance shareholder value [1]