TD Cowen reiterates JFrog stock rating on code security concerns

TD Cowen has reiterated a Buy rating and an $80 price target for JFrog (NASDAQ: FROG) despite a recent 27% stock decline linked to Claude Code Security concerns. The firm believes the market’s reaction is overblown, emphasizing JFrog’s specialization in securing binaries, which represents a small portion of its offerings and differentiates it from competitors. JFrog’s strong gross profit margin of 77% and its focus on the increasing volume of binaries reinforce TD Cowen’s positive stance.