JFrog (NASDAQ:FROG) Hits New 12-Month High Following Analyst Upgrade

JFrog Ltd. (NASDAQ:FROG) reached a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $115.00 to $120.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. JFrog traded as high as $105.76 and last traded at $106.0390, with a volume of 412,721 shares. The stock had previously closed at $100.98.

FROG has been the topic of a number of other research reports. 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. Barclays reiterated an “overweight” rating and issued a $110.00 price objective on shares of JFrog in a report on Friday, August 7th. Raymond James Financial set a $120.00 price objective on JFrog in a research report on Friday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $115.00 target price on shares of JFrog in a research note on Wednesday, November 4th. Finally, Stifel Nicolaus set a $102.00 target price on JFrog in a research note on Friday, September 4th. Twenty-one equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.43.

Insider Transactions at JFrog

In related news, Director Frederic Simon sold 120,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $97.24, for a total transaction of $11,668,800.00. Following the transaction, the director owned 2,744,328 shares in the company, valued at $266,858,454.72. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Yoav Landman sold 45,000 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $97.27, for a total transaction of $4,377,150.00. Following the completion of the transaction, the chief technology officer directly owned 5,109,038 shares of the company’s stock, valued at approximately $496,956,126.26. The trade was a 0.87% 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 90 days, 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of JFrog by 83.1% in the 2nd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $59,000 after purchasing an additional 294 shares during the period. IFP Advisors Inc boosted its position in shares of JFrog by 4.7% during the second quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $625,000 after purchasing an additional 309 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of JFrog during the first quarter valued at approximately $30,000. Moody National Bank Trust Division grew its stake in JFrog by 7.9% in the third quarter. Moody National Bank Trust Division now owns 9,768 shares of the company’s stock worth $948,000 after purchasing an additional 718 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in JFrog in the first quarter worth $36,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Stock Up 5.3%

The business has a fifty day simple moving average of $93.42 and a 200-day simple moving average of $72.58. The firm has a market cap of $13.11 billion, a P/E ratio of -589.64 and a beta of 1.31.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. On average, sell-side analysts anticipate that JFrog Ltd. will post -0.11 EPS for the current fiscal year.

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.