JFrog (NASDAQ:FROG) Price Target Raised to $48.00

JFrog (NASDAQ:FROG) had its price target raised by Barclays from $38.00 to $48.00 in a report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other analysts have also issued reports on FROG. Canaccord Genuity Group lifted their price target on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank lifted their price target on JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Truist Financial reiterated a “buy” rating and set a $35.00 price objective (up previously from $33.00) on shares of JFrog in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC lifted their price objective on JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.17.

JFrog Trading Up 5.5 %

Shares of FROG opened at $39.80 on Friday. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81. The stock’s 50 day moving average is $32.79 and its two-hundred day moving average is $30.60. The firm has a market cap of $4.05 billion, a P/E ratio of -75.09 and a beta of 0.97.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. The business had revenue of $116.08 million during the quarter, compared to analyst estimates of $114.16 million. Equities research analysts forecast that JFrog will post -0.32 EPS for the current year.

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 20,443 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 4,937,011 shares of the company’s stock, valued at $151,072,536.60. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Tali Notman sold 75,635 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $35.00, for a total value of $2,647,225.00. Following the transaction, the executive now directly owns 582,394 shares of the company’s stock, valued at $20,383,790. The trade was a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 411,338 shares of company stock worth $13,710,378. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. North Peak Capital Management LLC acquired a new stake in shares of JFrog during the 3rd quarter worth about $73,417,000. TimesSquare Capital Management LLC raised its position in shares of 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 acquiring an additional 1,617,551 shares in the last quarter. Norges Bank acquired a new stake in shares of JFrog during the 4th quarter worth about $32,878,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of JFrog during the 3rd quarter worth about $32,401,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of JFrog during the 4th quarter worth about $30,554,000. 85.02% of the stock is owned by institutional investors and hedge funds.

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.