JFrog Ltd. (NASDAQ:FROG) Receives $52.57 Average Price Target from Analysts

Shares of JFrog Ltd. (NASDAQ:FROG) have been given a consensus rating of “Hold” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $52.57.

FROG has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of JFrog from $44.00 to $32.00 in a research note on Thursday, January 6th. KeyCorp started coverage on shares of JFrog in a report on Wednesday, December 22nd. They issued a “sector weight” rating on the stock. Stifel Nicolaus raised shares of JFrog from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, December 9th. Needham & Company LLC reissued a “buy” rating and set a $71.00 price objective on shares of JFrog in a report on Thursday, December 23rd. Finally, Zacks Investment Research raised shares of JFrog from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 6th.

In related news, CEO Ben Haim Shlomi sold 110,000 shares of the stock in a transaction that occurred on Thursday, December 2nd. The shares were sold at an average price of $29.70, for a total value of $3,267,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 38.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its holdings in JFrog by 25.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,509 shares of the company’s stock worth $401,000 after buying an additional 2,778 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of JFrog by 24.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 37,591 shares of the company’s stock worth $1,259,000 after acquiring an additional 7,275 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of JFrog by 61.8% in the third quarter. Bank of New York Mellon Corp now owns 805,925 shares of the company’s stock valued at $26,998,000 after buying an additional 307,773 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of JFrog by 6.4% in the third quarter. Summit Trail Advisors LLC now owns 40,707 shares of the company’s stock valued at $1,364,000 after buying an additional 2,457 shares in the last quarter. Finally, Utah Retirement Systems bought a new position in shares of JFrog in the third quarter valued at $251,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

NASDAQ:FROG opened at $26.19 on Wednesday. JFrog has a one year low of $25.58 and a one year high of $71.78. The company has a fifty day moving average price of $31.49 and a 200 day moving average price of $36.12.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. JFrog had a negative net margin of 23.78% and a negative return on equity of 6.58%. The company had revenue of $53.70 million during the quarter, compared to analysts’ expectations of $52.53 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The business’s revenue was up 38.1% on a year-over-year basis. As a group, analysts forecast that JFrog will post -0.34 earnings per share for the current fiscal year.

About JFrog

JFrog Ltd. provides DevOps platform to achieve continuous software release management platform enabling organizations to deliver software updates across any system in the United States. Its platform acts as a bridge between software development and deployment, which enables organizations to build and release software faster and securely.

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Analyst Recommendations for JFrog (NASDAQ:FROG)

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