JFrog (NASDAQ:FROG) Price Target Raised to $45.00 at Stifel Nicolaus

JFrog (NASDAQ:FROG) had its price target boosted by equities researchers at Stifel Nicolaus from $35.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 13.06% from the company’s previous close.

A number of other analysts have also recently issued reports on FROG. Truist Financial increased their price objective on shares of JFrog from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group increased their price objective on shares of JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC upped their target price on shares of JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group upped their target price on shares of JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank upped their target price on shares of JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

JFrog Trading Up 5.6 %

FROG stock traded up $2.09 during midday trading on Friday, reaching $39.80. 2,894,229 shares of the company’s stock traded hands, compared to its average volume of 1,066,976. The stock’s 50-day moving average is $32.62 and its 200 day moving average is $30.70. The stock has a market cap of $4.06 billion, a P/E ratio of -75.10 and a beta of 0.97. JFrog has a 52-week low of $22.91 and a 52-week high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. As a group, research analysts expect that JFrog will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other JFrog news, CEO Ben Haim Shlomi sold 20,443 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $30.60, for a total transaction of $625,555.80. Following the transaction, the chief executive officer now directly owns 4,937,011 shares in the company, valued at $151,072,536.60. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eduard Grabscheid sold 834 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $25,520.40. Following the transaction, the chief financial officer now owns 97,260 shares in the company, valued at $2,976,156. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 411,685 shares of company stock worth $13,720,965. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Several large investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of JFrog by 30.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock worth $25,963,000 after purchasing an additional 210,000 shares during the last quarter. abrdn plc grew its holdings in shares of JFrog by 4.1% during the fourth quarter. abrdn plc now owns 772,202 shares of the company’s stock worth $22,784,000 after purchasing an additional 30,392 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of JFrog by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock worth $43,817,000 after purchasing an additional 159,483 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of JFrog by 55.8% during the third quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock worth $41,757,000 after purchasing an additional 514,895 shares during the last quarter. Finally, North Peak Capital Management LLC purchased a new position in shares of JFrog during the third quarter worth about $73,417,000. Hedge funds and other institutional investors 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.