JFrog (NASDAQ:FROG) Price Target Lowered to $33.00 at Morgan Stanley

JFrog (NASDAQ:FROG) had its price objective trimmed by Morgan Stanley from $47.00 to $33.00 in a report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

FROG has been the topic of a number of other reports. Needham & Company LLC restated a buy rating and set a $45.00 price objective on shares of JFrog in a report on Tuesday, June 25th. Canaccord Genuity Group dropped their price target on JFrog from $48.00 to $38.00 and set a buy rating on the stock in a research note on Thursday. Scotiabank reduced their price objective on JFrog from $45.00 to $40.00 and set a sector perform rating for the company in a research report on Friday, May 10th. TD Cowen began coverage on shares of JFrog in a report on Wednesday, July 24th. They set a buy rating and a $50.00 target price for the company. Finally, UBS Group assumed coverage on shares of JFrog in a research note on Wednesday, May 22nd. They issued a buy rating and a $41.00 price target on the stock. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $38.00.

JFrog Stock Performance

NASDAQ:FROG traded up $1.46 on Thursday, reaching $26.14. The company’s stock had a trading volume of 3,102,280 shares, compared to its average volume of 1,272,460. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81. The business’s 50-day moving average price is $35.00 and its two-hundred day moving average price is $37.79. The firm has a market cap of $2.66 billion, a PE ratio of -55.62 and a beta of 0.96.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 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 expect that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling

In other JFrog news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the sale, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ben Haim Shlomi sold 57,550 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total value of $1,356,250.00. Following the transaction, the director now owns 4,549,432 shares in the company, valued at approximately $176,290,490. The disclosure for this sale can be found here. In the last three months, insiders have sold 272,107 shares of company stock valued at $9,513,787. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. George Kaiser Family Foundation lifted its holdings in shares of JFrog by 0.7% during the second quarter. George Kaiser Family Foundation now owns 75,037 shares of the company’s stock worth $2,818,000 after buying an additional 532 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in shares of JFrog by 1.2% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 45,767 shares of the company’s stock valued at $1,584,000 after acquiring an additional 535 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in JFrog during the first quarter worth about $26,000. Advisors Asset Management Inc. raised its stake in JFrog by 33.9% in 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 in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in JFrog by 6.0% in the 1st quarter. Lazard Asset Management LLC now owns 15,549 shares of the company’s stock valued at $686,000 after purchasing an additional 879 shares during the period. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Company Profile

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.