Morgan Stanley Raises JFrog (NASDAQ:FROG) Price Target to $44.00

JFrog (NASDAQ:FROG) had its target price lifted by Morgan Stanley from $36.00 to $44.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 10.55% from the company’s current price.

Several other analysts have also recently weighed in on the company. Robert W. Baird raised their price target on JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $38.00 price objective on shares of JFrog in a report on Wednesday. Needham & Company LLC raised their price objective on JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a report on Friday. UBS Group raised their price objective on JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen raised their price objective on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 28th. Three 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, JFrog has a consensus rating of “Moderate Buy” and a consensus target price of $42.17.

JFrog Stock Performance

Shares of FROG opened at $39.80 on Friday. The stock’s 50-day simple moving average is $32.79 and its 200 day simple moving average is $30.66. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -75.09 and a beta of 0.97. JFrog has a 52-week low of $22.91 and a 52-week high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data 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). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. The company had revenue of $116.08 million for the quarter, compared to analysts’ expectations of $114.16 million. On average, research analysts forecast that JFrog will post -0.32 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other news, CFO Eduard Grabscheid sold 834 shares of JFrog stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $25,520.40. Following the sale, the chief financial officer now directly owns 97,260 shares in the company, valued at approximately $2,976,156. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Tali Notman sold 75,635 shares of JFrog stock in a transaction that occurred 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 completion of the sale, the executive now owns 582,394 shares in the company, valued at approximately $20,383,790. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,685 shares of company stock worth $13,720,965. 15.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JFrog

Several hedge funds have recently made changes to their positions in FROG. Sanctuary Advisors LLC bought a new stake in shares of JFrog during the second quarter valued at approximately $188,000. Assenagon Asset Management S.A. boosted its position in shares of JFrog by 54.2% during the third quarter. Assenagon Asset Management S.A. now owns 270,137 shares of the company’s stock valued at $7,845,000 after purchasing an additional 95,004 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of JFrog during the third quarter valued at approximately $275,000. abrdn plc boosted its position in shares of JFrog by 9.4% during the third quarter. abrdn plc now owns 741,810 shares of the company’s stock valued at $21,483,000 after purchasing an additional 63,840 shares in the last quarter. Finally, Roubaix Capital LLC boosted its position in shares of JFrog by 2.4% during the third quarter. Roubaix Capital LLC now owns 89,414 shares of the company’s stock valued at $2,597,000 after purchasing an additional 2,111 shares in the last quarter. 85.02% of the stock is currently owned by institutional investors.

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.