TD Cowen Begins Coverage on JFrog (NASDAQ:FROG)

TD Cowen assumed coverage on shares of JFrog (NASDAQ:FROG) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $50.00 target price on the stock.

Several other research firms have also weighed in on FROG. UBS Group assumed coverage on JFrog in a report on Wednesday, May 22nd. They issued a buy rating and a $41.00 target price on the stock. Morgan Stanley dropped their target price on shares of JFrog from $52.00 to $47.00 and set an overweight rating for the company in a report on Friday, May 10th. FBN Securities assumed coverage on shares of JFrog in a report on Wednesday, May 22nd. They issued an outperform rating and a $45.00 price target on the stock. Barclays began coverage on shares of JFrog in a research note on Wednesday, June 26th. They set an overweight rating and a $50.00 price objective for the company. Finally, KeyCorp reduced their target price on JFrog from $52.00 to $46.00 and set an overweight rating on the stock in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, JFrog has a consensus rating of Moderate Buy and a consensus target price of $45.07.

JFrog Stock Up 3.3 %

Shares of FROG opened at $39.51 on Wednesday. JFrog has a 52-week low of $21.38 and a 52-week high of $48.81. The company has a 50-day simple moving average of $34.82 and a 200-day simple moving average of $37.76. The company has a market capitalization of $4.03 billion, a PE ratio of -84.06 and a beta of 0.96.

JFrog (NASDAQ:FROG) last issued its earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. On average, research analysts anticipate that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling

In other JFrog news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the transaction, the director now owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the transaction, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 257,207 shares of company stock worth $8,915,764. 15.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On JFrog

Several institutional investors have recently bought and sold shares of FROG. Vanguard Group Inc. lifted its position in shares of JFrog by 10.7% during the third quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock worth $178,344,000 after purchasing an additional 679,007 shares in the last quarter. ARK Investment Management LLC boosted its position in JFrog by 9.7% in the 4th quarter. ARK Investment Management LLC now owns 81,599 shares of the company’s stock valued at $2,824,000 after buying an additional 7,202 shares during the last quarter. Arizona State Retirement System grew its stake in shares of JFrog by 7.2% during the fourth quarter. Arizona State Retirement System now owns 21,761 shares of the company’s stock valued at $753,000 after acquiring an additional 1,455 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of JFrog during the fourth quarter worth about $263,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of JFrog during the fourth quarter worth about $2,983,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

JFrog Company Profile

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.