JFrog Leaps Higher on First Day of Trading

JFrog Leaps Higher on First Day of Trading

Wednesday was a good day for brand-new software stocks. 

JFrog FROG made a successful debut on the Nasdaq today, closing the trading session 47% higher than its initial offering price of $44 share. Shares of JFrog, a platform for software release management, closed at $64.79 and the company netted more than $500 million in its IPO. 

The first-day performance “highlights the importance of our products, and the value we provide,” JFrog CFO Jacob Shulman told TheStreet. “We’re very happy with the outcome.” 

JFrog focuses on a growing niche called Developer Operations, or DevOps, which aims to streamline software development and management within organizations. The company’s platform powers what it calls “continuous delivery” of software updates, helping to get new versions to the end customer more quickly and reliably. 

The company says that COVID-19 has only increased the urgency of fast, reliable software updates — and demand for its platform. Shulman added that the second quarter was the company’s best ever for lead generation, and that a recent user conference attracted five times as many attendees as in years past. 

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