Needham & Company LLC Reaffirms “Buy” Rating for JFrog (NASDAQ:FROG)

Needham & Company LLC reissued their buy rating on shares of JFrog (NASDAQ:FROG) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $45.00 target price on the stock.

Several other brokerages also recently commented on FROG. UBS Group started coverage on JFrog in a research report on Wednesday, May 22nd. They issued a buy rating and a $41.00 price objective on the stock. Oppenheimer upped their price target on shares of JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Bank Of America (Bofa) raised their price target on shares of JFrog from $36.00 to $54.00 in a research note on Thursday, March 7th. Morgan Stanley lowered their price objective on shares of JFrog from $52.00 to $47.00 and set an overweight rating for the company in a research report on Friday, May 10th. Finally, KeyCorp reduced their target price on shares of JFrog from $52.00 to $46.00 and set an overweight rating on the stock in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $43.93.

JFrog Trading Up 2.2 %

JFrog stock opened at $37.55 on Tuesday. The firm has a market capitalization of $3.83 billion, a PE ratio of -79.89 and a beta of 0.93. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The firm has a 50-day moving average price of $35.28 and a 200-day moving average price of $37.19.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $100.31 million during the quarter, compared to the consensus estimate of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. As a group, sell-side analysts predict that JFrog will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Tali Notman sold 34,748 shares of JFrog stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $33.96, for a total value of $1,180,042.08. Following the transaction, the executive now directly owns 559,034 shares in the company, valued at approximately $18,984,794.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the completion of the sale, the director now owns 4,654,432 shares of the company’s stock, valued at $181,383,215.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Tali Notman sold 34,748 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $33.96, for a total value of $1,180,042.08. Following the transaction, the executive now directly owns 559,034 shares in the company, valued at $18,984,794.64. The disclosure for this sale can be found here. Insiders sold a total of 241,048 shares of company stock worth $8,433,115 over the last 90 days. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FROG. Arcadia Investment Management Corp MI purchased a new stake in JFrog in the first quarter valued at about $26,000. Fred Alger Management LLC acquired a new position in shares of JFrog during the third quarter valued at about $35,000. Frazier Financial Advisors LLC purchased a new position in shares of JFrog in the 4th quarter valued at approximately $35,000. Future Financial Wealth Managment LLC acquired a new stake in JFrog in the 1st quarter worth approximately $44,000. Finally, Advisors Asset Management Inc. grew its position in JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after purchasing an additional 662 shares during the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

About JFrog

JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.