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JFrog jumps as Q3 profit, revenue beat estimates

By Reuters News

** Shares of software tools maker JFrog FROG.O rise 29.8% to $96.8

** Sunnyvale, California based co reports Q3 EPS of 32 cents, beating analyst' estimates of 23 cents, according to data compiled by LSEG

** Reports Q3 revenue of $179.2 mln, exceeding analysts' expectations of $165.9 mln

** Says strong demand for its cloud offerings drove a 60% YOY increase in cloud revenue, which accounted for 57% of total revenue

** Growth does not appear to be slowing, with remaining performance obligations rising 60% and customers generating more than $1 mln in annual recurring revenue increasing 58%, says brokerage BTIG

** 23 of 25 brokerages rate the stock "buy" or above and 2 "hold"; median PT at $115 - LSEG data

** Including session moves, stock up 55.1% YTD

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