JFrog (NASDAQ:FROG) Price Target Raised to $36.00

JFrog (NASDAQ:FROG) had its target price boosted by Needham & Company LLC from $33.00 to $36.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 9.56% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird lifted their price target on shares of JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday. Oppenheimer cut shares of JFrog from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Bank of America dropped their price objective on JFrog from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of JFrog in a research note on Monday, October 14th. Finally, Baird R W upgraded JFrog to a “strong-buy” rating in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, JFrog presently has an average rating of “Moderate Buy” and an average price target of $37.00.

JFrog Trading Up 3.6 %

FROG stock opened at $32.86 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of -73.02 and a beta of 0.93. The stock’s fifty day simple moving average is $28.97 and its two-hundred day simple moving average is $32.44. JFrog has a 1-year low of $22.91 and a 1-year high of $48.81.

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

Insider Activity

In related news, CEO Ben Haim Shlomi sold 35,550 shares of JFrog stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total value of $1,066,500.00. Following the transaction, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $28.00, for a total value of $420,000.00. Following the sale, the chief technology officer now directly owns 6,627,242 shares in the company, valued at approximately $185,562,776. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total value of $1,066,500.00. Following the transaction, the chief executive officer now owns 4,975,229 shares of the company’s stock, valued at approximately $149,256,870. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,031 shares of company stock valued at $3,618,247. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of JFrog during the 3rd quarter valued at about $29,000. Advisors Asset Management Inc. lifted its holdings in JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after buying an additional 662 shares during the period. SG Americas Securities LLC purchased a new stake in JFrog in the second quarter worth about $187,000. Sanctuary Advisors LLC bought a new stake in JFrog during the 2nd quarter valued at approximately $188,000. Finally, US Bancorp DE grew its holdings in shares of JFrog by 13.6% during the 3rd quarter. US Bancorp DE now owns 6,687 shares of the company’s stock worth $194,000 after acquiring an additional 798 shares during the period. 85.02% of the stock is owned by hedge funds and other institutional investors.

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.