By otakuyassine3@gmail.com 
JFrog (NASDAQ:FROG – Get Free Report) had its target price boosted by Canaccord Genuity Group from $38.00 to $45.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 13.07% from the company’s previous close.
Several other brokerages have also recently issued reports on FROG. Truist Financial reaffirmed a “buy” rating and set a $35.00 target price (up previously from $33.00) on shares of JFrog in a research note on Friday, November 8th. UBS Group boosted their price target 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 price objective on shares of JFrog in a report on Wednesday. Barclays dropped their price target on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Morgan Stanley upped their target price on JFrog from $36.00 to $44.00 and gave the company an “overweight” rating in a report on Friday. Three 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.17.
Get Our Latest Analysis on JFrog
JFrog Stock Up 5.5 %
FROG stock opened at $39.80 on Friday. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81. The firm has a 50-day simple moving average of $32.79 and a 200-day simple moving average of $30.66. The stock has a market capitalization of $4.05 billion, a P/E ratio of -75.09 and a beta of 0.97.
JFrog (NASDAQ:FROG – Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). The firm had revenue of $116.08 million for the quarter, compared to analyst estimates of $114.16 million. JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. On average, analysts expect that JFrog will post -0.32 earnings per share for the current year.
Insider Activity
In related news, CFO Eduard Grabscheid sold 834 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.60, for a total transaction of $25,520.40. Following the completion of the transaction, the chief financial officer now directly owns 97,260 shares in the company, valued at $2,976,156. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Tali Notman sold 75,635 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the sale, the executive now owns 582,394 shares in the company, valued at $20,383,790. This trade represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 411,685 shares of company stock valued at $13,720,965. 15.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On JFrog
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FROG. North Peak Capital Management LLC purchased a new stake in shares of JFrog during the third quarter worth $73,417,000. TimesSquare Capital Management LLC increased its holdings in JFrog by 114.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares during the period. Norges Bank purchased a new stake in JFrog during the 4th quarter worth about $32,878,000. Massachusetts Financial Services Co. MA acquired a new stake in JFrog in the 3rd quarter valued at about $32,401,000. Finally, Raymond James Financial Inc. purchased a new position in shares of JFrog in the 4th quarter valued at about $30,554,000. 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.
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