Morgan Stanley Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

JFrog (NASDAQ:FROG) had its target price upped by analysts at Morgan Stanley from $100.00 to $114.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 4.10% from the stock’s current price.

A number of other research analysts have also weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $115.00 price objective on shares of JFrog in a research report on Friday, September 4th. TD Cowen reissued a “buy” rating and issued a $120.00 target price on shares of JFrog in a report on Thursday, September 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of JFrog in a research note on Thursday, October 15th. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of JFrog in a report on Thursday, September 3rd. Finally, Piper Sandler raised their price target on JFrog from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 6th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.10.

JFrog Price Performance

Shares of NASDAQ FROG opened at $109.51 on Thursday. JFrog has a 1 year low of $34.05 and a 1 year high of $113.23. The firm has a 50-day moving average of $94.04 and a 200 day moving average of $73.34. The stock has a market cap of $13.65 billion, a P/E ratio of -608.39 and a beta of 1.31.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. JFrog had a negative net margin of 3.29% and a negative return on equity of 1.55%. The business had revenue of $179.17 million for the quarter, compared to analysts’ expectations of $165.92 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The business’s revenue was up 30.9% compared to the same quarter last year. Research analysts expect that JFrog will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JFrog news, Director Frederic Simon sold 120,000 shares of JFrog stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $93.21, for a total value of $11,185,200.00. Following the completion of the sale, the director owned 2,864,328 shares of the company’s stock, valued at approximately $266,984,012.88. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Yoav Landman sold 249,300 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $100.72, for a total value of $25,109,496.00. Following the completion of the transaction, the chief technology officer owned 5,199,038 shares of the company’s stock, valued at $523,647,107.36. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 735,453 shares of company stock valued at $70,307,366. Insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On JFrog

Institutional investors have recently modified their holdings of the business. Western Wealth Management LLC bought a new stake in JFrog in the 1st quarter worth about $30,000. Bessemer Group Inc. bought a new stake in shares of JFrog in the first quarter worth approximately $36,000. Allworth Financial LP grew its stake in shares of JFrog by 83.1% in the second quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $59,000 after acquiring an additional 294 shares during the period. GK Wealth Management LLC bought a new stake in shares of JFrog in the third quarter worth approximately $74,000. Finally, GAMMA Investing LLC raised its holdings in shares of JFrog by 418.1% during the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock valued at $97,000 after purchasing an additional 807 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.

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. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.