Israel software company JFrog (Nasdaq: FROG) saw its share price jump 23.7% on Friday after reporting strong first quarter financial results after the market closed on Thursday night. The company, which provides software development solutions, and is managed by cofounder and CEO Shlomo Ben Haim, has a market cap of $8.5 billion.

JFrog revenue was $154 million in the first quarter, up 26% from the corresponding quarter of 2025. The company reported a GAAP net loss of $8.3 million, narrowing from the corresponding quarter, and a non-GAAP net profit of $34.2 million, up 46.9% from the corresponding quarter with earnings per share of $0.27, beating the analysts' forecasts.

The company’s revenue guidance is for $154-156 million in the second quarter, with earnings per share of $0.23-0.25. Full year guidance is for revenue of $628-632 million and earnings per share of $0.93-0.97. In response to the financial results, Cantor Fitzgerald analyst Jonathan Ruykhaver wrote that JFrog delivered a "beat and raise" quarter due to strong demand in AI and security. Ruykhaver added that JFrog raised its annual cloud growth forecast to 33%-35% from 30%-32%, but he believes the new forecast is the new lower boundary, as it does not include new deals - so he expects the company to beat it. His recommendation for the stock remains unchanged, "Outperform" (Top Pick) with a price target of $80, a 13.4% premium on Nasdaq after Friday’s jump.

JFrog's share price has more than doubled in value since it plunged in February, amid concerns about damage to its business model following the launch of advanced AI models, particularly from Anthropic. Kantor believes the company has a moat - an advantage that allows it to protect itself from competition.

Published by Globes, Israel business news - en.globes.co.il - on May 10, 2026.

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