BUZZ-JFrog shares surge as third-quarter profit and revenue exceed expectations

November 6 - ** Software tools maker JFrog (FROG.O) shares rose 29.8% to $96.8

** According to data compiled by London Stock Exchange Group (LSEG), the Sunnyvale, California-based company reported third-quarter earnings per share of $0.32, above analysts’ forecast of $0.23

** The report shows third-quarter revenue of $179.2 million, surpassing analysts’ expectations of $165.9 million

** The company said strong demand for its cloud services drove cloud business revenue up 60% year-over-year, accounting for 57% of total revenue

** Brokerage BTIG stated that growth momentum does not appear to be slowing, with unfulfilled performance obligations growing 60%, and the number of customers with annual recurring revenue greater than $1 million increasing by 58%

** Among 25 brokerages, 23 rated the stock as “buy” or higher, while two rated it “hold”; median price target is $115 — LSEG data

** Including intraday moves, the stock is up 55.1% so far this year

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