JFrog (NASDAQ:FROG) Stock Rating Reaffirmed by Cantor Fitzgerald

JFrog (NASDAQ:FROG)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $35.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 25.99% from the company’s previous close.

Several other research firms have also recently weighed in on FROG. Piper Sandler lowered their price objective on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus dropped their target price on JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC raised their price target on shares of JFrog from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Robert W. Baird started coverage on shares of JFrog in a research report on Tuesday, August 27th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Scotiabank cut their target price on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

JFrog Trading Down 1.2 %

Shares of JFrog stock opened at $27.78 on Wednesday. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81. The stock has a market cap of $2.83 billion, a PE ratio of -59.11 and a beta of 0.94. The company’s 50-day moving average price is $32.06 and its two-hundred day moving average price is $36.18.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results 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). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The company had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. On average, equities analysts predict that JFrog will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ben Haim Shlomi sold 16,714 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.21, for a total transaction of $471,501.94. Following the sale, the chief executive officer now directly owns 5,010,779 shares in the company, valued at $141,354,075.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Ben Haim Shlomi sold 16,714 shares of JFrog stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.21, for a total transaction of $471,501.94. Following the sale, the chief executive officer now directly owns 5,010,779 shares in the company, valued at approximately $141,354,075.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederic Simon sold 35,000 shares of the company’s 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 sale, the director now directly owns 4,549,432 shares in the company, valued at approximately $176,290,490. The disclosure for this sale can be found here. Insiders have sold a total of 227,089 shares of company stock valued at $7,696,163 over the last three months. 15.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JFrog

Several institutional investors and hedge funds have recently made changes to their positions in the company. 1832 Asset Management L.P. boosted 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 worth $62,885,000 after purchasing an additional 1,052,800 shares in the last quarter. Meitav Investment House Ltd. raised its stake in shares of JFrog by 4,244.7% in the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock worth $32,903,000 after acquiring an additional 856,451 shares during the last quarter. American Century Companies Inc. lifted its position in shares of JFrog by 172.5% during the second quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock worth $49,943,000 after purchasing an additional 841,956 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of JFrog during the first quarter valued at approximately $35,520,000. Finally, Ensign Peak Advisors Inc bought a new position in JFrog in the 2nd quarter valued at $30,098,000. Institutional investors and hedge funds own 85.02% of the company’s stock.

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.