Needham & Company LLC Reiterates Buy Rating for JFrog (NASDAQ:FROG)

JFrog (NASDAQ:FROG)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They presently have a $33.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 17.35% from the stock’s previous close.

A number of other equities analysts also recently commented on FROG. Scotiabank decreased their price target on JFrog from $40.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird assumed coverage on shares of JFrog in a report on Tuesday, August 27th. They issued an “outperform” rating and a $32.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price on shares of JFrog in a research note on Wednesday, September 11th. DA Davidson restated a “buy” rating and set a $40.00 price target on shares of JFrog in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus cut their price objective on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, JFrog has a consensus rating of “Moderate Buy” and an average price target of $36.28.

JFrog Stock Performance

Shares of NASDAQ:FROG opened at $28.12 on Monday. The business’s 50-day simple moving average is $31.26 and its 200 day simple moving average is $35.59. The company has a market cap of $2.86 billion, a P/E ratio of -59.83 and a beta of 0.93. JFrog has a one year low of $21.38 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last announced its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $103.04 million during the quarter, compared to analysts’ expectations of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. Analysts predict that JFrog will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Yoav Landman sold 16,277 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $36.66, for a total transaction of $596,714.82. Following the completion of the sale, the chief technology officer now directly owns 6,697,242 shares of the company’s stock, valued at $245,520,891.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total value of $1,356,250.00. Following the completion of the sale, the director now owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Yoav Landman sold 16,277 shares of JFrog stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $36.66, for a total value of $596,714.82. Following the transaction, the chief technology officer now owns 6,697,242 shares in the company, valued at approximately $245,520,891.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,040 shares of company stock worth $7,238,795. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Several institutional investors and hedge funds have recently bought and sold shares of FROG. Frazier Financial Advisors LLC purchased a new position in JFrog in the fourth quarter valued at about $35,000. Future Financial Wealth Managment LLC bought a new stake in shares of JFrog in the 1st quarter valued at approximately $44,000. Advisors Asset Management Inc. increased its holdings in JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after buying an additional 662 shares during the last quarter. RiverPark Advisors LLC bought a new position in JFrog during the first quarter valued at approximately $140,000. Finally, Duality Advisers LP acquired a new stake in JFrog in the first quarter valued at approximately $205,000. 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.