JFrog (NASDAQ:FROG) Stock Price Target Raised at JPMorgan Chase & Co.

JFrog (NASDAQ:FROG) had its price target hoisted by JPMorgan Chase & Co. from $115.00 to $120.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

FROG has been the subject of several other research reports. TD Cowen reissued a “buy” rating and issued a $120.00 price target on shares of JFrog in a research note on Thursday, September 3rd. Royal Bank Of Canada lifted their price target on shares of JFrog from $118.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of JFrog in a report on Thursday, September 3rd. Raymond James Financial set a $120.00 price objective on JFrog in a research report on Friday, August 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $115.00 price objective on shares of JFrog in a research report on Friday, September 4th. Twenty-one analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.43.

JFrog Price Performance

FROG opened at $100.98 on Friday. The company’s 50 day simple moving average is $93.42 and its two-hundred day simple moving average is $72.58. JFrog has a 1-year low of $34.05 and a 1-year high of $105.76. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of -561.00 and a beta of 1.31.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. JFrog had a negative return on equity of 1.58% and a negative net margin of 3.29%. The business had revenue of $179.17 million during the quarter, compared to analyst estimates of $165.92 million. During the same period in the prior year, the business earned $0.22 earnings per share. The business’s revenue was up 30.9% compared to the same quarter last year. On average, equities analysts anticipate that JFrog will post -0.11 earnings per share for the current fiscal year.

Insider Activity at JFrog

In other news, CRO Tali Notman sold 19,157 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $90.51, for a total value of $1,733,900.07. Following the sale, the executive directly owned 687,472 shares of the company’s stock, valued at approximately $62,223,090.72. The trade was a 2.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frederic Simon sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $90.86, for a total transaction of $10,903,200.00. Following the completion of the transaction, the director owned 2,984,328 shares in the company, valued at approximately $271,156,042.08. This represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 900,453 shares of company stock worth $85,299,266. 11.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FROG. Diversified Trust Co purchased a new position in JFrog in the third quarter valued at $1,734,000. Russell Investments Group Ltd. increased its holdings in JFrog by 160.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 354,869 shares of the company’s stock worth $34,437,000 after purchasing an additional 218,368 shares during the period. Pier 88 Investment Partners LLC purchased a new stake in JFrog during the 3rd quarter worth about $543,000. Illinois Municipal Retirement Fund purchased a new stake in JFrog during the 3rd quarter worth about $3,000,000. Finally, Knights of Columbus Asset Advisors LLC raised its position in JFrog by 22.3% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 27,865 shares of the company’s stock valued at $2,704,000 after purchasing an additional 5,088 shares in the last quarter. 85.02% of the stock is currently owned by institutional investors and hedge funds.

JFrog Company Profile

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.