JFrog’s (FROG) “Overweight” Rating Reiterated at KeyCorp

KeyCorp reissued their overweight rating on shares of JFrog (NASDAQ:FROG) in a research report report published on Friday,Benzinga reports. KeyCorp currently has a $46.00 target price on the stock, up from their prior target price of $36.00.

Other analysts also recently issued reports about the company. Morgan Stanley raised their price target on JFrog from $36.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday. Scotiabank raised their price target on JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Barclays raised their price target on JFrog from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group lifted their target price on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Robert W. Baird lifted their target price on JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.17.

JFrog Stock Performance

FROG stock opened at $39.80 on Friday. The firm has a fifty day moving average price of $32.79 and a 200 day moving average price of $30.60. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $48.81. The firm has a market cap of $4.05 billion, a PE ratio of -75.09 and a beta of 0.97.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results 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). The company had revenue of $116.08 million during the quarter, compared to the consensus estimate of $114.16 million. JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. On average, equities analysts predict that JFrog will post -0.32 EPS for the current year.

Insider Activity at JFrog

In other JFrog news, CFO Eduard Grabscheid sold 834 shares of JFrog stock in a transaction dated 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. The trade was a 0.85 % 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, CRO Tali Notman sold 75,635 shares of JFrog stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.00, for a total value of $2,647,225.00. Following the completion of the transaction, the executive now owns 582,394 shares in the company, valued at $20,383,790. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,338 shares of company stock worth $13,710,378 over the last three months. 15.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JFrog

Several institutional investors and hedge funds have recently added to or reduced their stakes in FROG. North Peak Capital Management LLC purchased a new position in JFrog in the third quarter valued at about $73,417,000. TimesSquare Capital Management LLC grew its stake in shares of JFrog by 114.1% during the third 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 during the last quarter. Norges Bank purchased a new stake in shares of JFrog during the fourth quarter worth about $32,878,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of JFrog during the third quarter worth about $32,401,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of JFrog during the fourth quarter worth 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.