JFrog (NASDAQ:FROG) Price Target Cut to $30.00

JFrog (NASDAQ:FROG) had its target price reduced by equities research analysts at KeyCorp from $46.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 14.77% from the company’s previous close.

Several other equities research analysts also recently issued reports on FROG. Cantor Fitzgerald cut their price target on JFrog from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. Barclays initiated coverage on JFrog in a report on Wednesday, June 26th. They set an “overweight” rating and a $50.00 price target for the company. TD Cowen initiated coverage on JFrog in a report on Wednesday, July 24th. They set a “buy” rating and a $50.00 price target for the company. Morgan Stanley dropped their target price on JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Oppenheimer downgraded JFrog from an “outperform” rating to a “market perform” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.

JFrog Price Performance

Shares of FROG traded up $1.46 during mid-day trading on Thursday, hitting $26.14. 3,122,110 shares of the company’s stock were exchanged, compared to its average volume of 1,272,460. The company has a market cap of $2.66 billion, a PE ratio of -55.62 and a beta of 0.96. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81. The company has a 50-day simple moving average of $35.00 and a 200 day simple moving average of $37.79.

JFrog (NASDAQ:FROG) last released its earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. The business had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. On average, analysts anticipate that JFrog will post -0.21 earnings per share for the current year.

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated 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 $176,290,490. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CRO Tali Notman sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $36.68, for a total transaction of $1,100,400.00. Following the sale, the executive now directly owns 559,034 shares in the company, valued at $20,505,367.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 4,549,432 shares in the company, valued at $176,290,490. The disclosure for this sale can be found here. Insiders have sold a total of 272,107 shares of company stock worth $9,513,787 over the last 90 days. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. lifted its stake in JFrog by 285.1% in the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock valued at $62,885,000 after buying an additional 1,052,800 shares during the period. Meitav Investment House Ltd. lifted its stake in JFrog by 4,244.7% in the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after buying an additional 856,451 shares during the period. American Century Companies Inc. lifted its stake in JFrog by 172.5% in the second quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock valued at $49,943,000 after buying an additional 841,956 shares during the period. Principal Financial Group Inc. acquired a new position in JFrog in the first quarter valued at approximately $35,520,000. Finally, Syon Capital LLC acquired a new position in JFrog in the fourth quarter valued at approximately $22,086,000. 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.