JFrog (NASDAQ:FROG) PT Raised to $33.00

JFrog (NASDAQ:FROG) had its price target hoisted by Needham & Company LLC from $30.00 to $33.00 in a report published on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on FROG. Canaccord Genuity Group reduced their price target on shares of JFrog from $48.00 to $38.00 and set a buy rating for the company in a research report on Thursday, August 8th. UBS Group cut their price objective on JFrog from $41.00 to $30.00 and set a buy rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their target price on JFrog from $50.00 to $32.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Morgan Stanley dropped their price target on JFrog from $47.00 to $33.00 and set an overweight rating for the company in a research report on Thursday, August 8th. Finally, Baird R W upgraded JFrog to a strong-buy rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, JFrog has an average rating of Moderate Buy and a consensus price target of $37.00.

JFrog Trading Down 3.7 %

Shares of FROG opened at $27.36 on Thursday. The firm has a market cap of $2.79 billion, a P/E ratio of -58.21 and a beta of 0.93. JFrog has a 12 month low of $21.38 and a 12 month high of $48.81. The stock’s 50 day moving average is $32.41 and its two-hundred day moving average is $36.40.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. Equities research analysts forecast that JFrog will post -0.28 EPS for the current year.

Insider Activity at JFrog

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 $176,290,490. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the completion of the transaction, the director now owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Tali Notman sold 5,882 shares of JFrog stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.51, for a total transaction of $220,633.82. Following the sale, the executive now owns 559,034 shares of the company’s stock, valued at $20,969,365.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,625 shares of company stock worth $7,304,041. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of JFrog by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock valued at $335,141,000 after buying an additional 523,432 shares during the period. Bank of New York Mellon Corp grew its position in JFrog by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock valued at $115,791,000 after acquiring an additional 561,897 shares in the last quarter. Praesidium Investment Management Company LLC increased its stake in JFrog by 6.5% during the fourth quarter. Praesidium Investment Management Company LLC now owns 1,943,381 shares of the company’s stock worth $67,260,000 after purchasing an additional 118,473 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of JFrog by 4.4% during the first quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock worth $76,160,000 after purchasing an additional 73,036 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of JFrog by 17.9% in the second quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock valued at $62,904,000 after purchasing an additional 254,100 shares during the period. 85.02% of the stock is currently owned by institutional investors and hedge funds.

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.