Screened 2026-09-11 · the tape above runs as of 13:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markup label.
JFrog Ltd. holds its Markup at $87.18. Consolidating, no directional conviction, held for 13 days.
As held on the ledger · 2026-09-11
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 13 days
Price at the screen
$87.18
Valuation
N/A trailing · 76.14 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.28
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.93%
Below 33%
Interest-bearing debt is just 0.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
46.86%
Below 33%
Interest-bearing cash and securities are 46.9% of assets, above the one-third limit.
Fail
Receivables
14.60%
Below 49%
Money owed to the company is 14.6% of assets, under the 49% limit.
Pass
Revenue purity
4.85%
Below 5%
Only 4.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-11 screen. The gold marker is the market price at the same screen. The price runs 17.0% above the base estimate.
Third-party analyst targets: 22 covering, consensus Strong Buy. The average target sits +32% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-11 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Paying Up for Software Still Losing Money
Every developer team needs somewhere safe to store and update code packages. JFrog built that tool and revenue is still rising at 26 percent a year, yet the business keeps posting an 11 percent loss and a negative return on equity.
At 79 times forward earnings the shares sit 36 percent above our fair value with no margin of safety and an opportunity rating of none. Strong analyst targets do not change the simple fact that growth alone does not justify the price when profits remain absent.
The ethical screen is clear but the valuation leaves little room for slower growth or fresh competition. Peak multiples on unprofitable software often mark the expensive side of the cycle rather than a bargain.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FROG trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-29Markup$89.48+1.1%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 38% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (20 analysts) rates it strong buy, with a mean price target of $81.
2026-07-30Markup$88.54+13.9%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 38% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (20 analysts) rates it strong buy, with a mean price target of $81.
2026-07-18Markup$77.74+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 38% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (20 analysts) rates it strong buy, with a mean price target of $81.
2026-07-03Markup$77.74+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$77.74Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
