JFrog (FROG) can benefit from the rapid pace of code development, supported by growing security and governance offerings, RBC Capital Markets said in a Thursday note.

While the company did not provide updated financial targets at its swampUP 2026 conference, its new product announcements were encouraging, analysts said.

RBC said that the company did a good job outlining the product and artificial intelligence roadmap, as well as indicating future growth drivers, including security and governance stock-keeping units.

Analysts said that JFrog is in a unique position in the software supply chain, with durable growth of over 20% and several growth levers with the potential to drive upside to estimates.

RBC kept its outperform rating and $118 price target on the stock.

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