JFrog (NASDAQ:FROG) Given New $33.00 Price Target at Truist Financial

JFrog (NASDAQ:FROG) had its price objective increased by Truist Financial from $30.00 to $33.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group reduced their target price on JFrog from $41.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of JFrog in a research note on Wednesday, September 11th. DA Davidson reissued a “buy” rating and set a $40.00 target price on shares of JFrog in a research note on Monday, October 14th. Robert W. Baird initiated coverage on JFrog in a research note on Tuesday, August 27th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Baird R W raised JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Three equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.44.

JFrog Price Performance

Shares of JFrog stock opened at $29.36 on Wednesday. The business’s 50 day simple moving average is $28.32 and its two-hundred day simple moving average is $33.13. The stock has a market capitalization of $2.99 billion, a P/E ratio of -62.47 and a beta of 0.94. JFrog has a one year low of $21.38 and a one year high of $48.81.

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

Insiders Place Their Bets

In other JFrog news, CEO Ben Haim Shlomi sold 35,550 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total value of $1,066,500.00. Following the sale, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at approximately $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the transaction, the chief technology officer now directly owns 6,642,242 shares of the company’s stock, valued at $170,572,774.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total value of $1,066,500.00. Following the transaction, the chief executive officer now directly owns 4,975,229 shares in the company, valued at approximately $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,031 shares of company stock valued at $5,103,847. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FROG. Vanguard Group Inc. lifted its holdings in JFrog by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,055,519 shares of the company’s stock valued at $244,192,000 after acquiring an additional 23,030 shares during the period. Park Avenue Securities LLC bought a new position in JFrog in the first quarter valued at about $229,000. Future Financial Wealth Managment LLC bought a new position in JFrog in the first quarter valued at about $44,000. Harbour Capital Advisors LLC lifted its holdings in JFrog by 32.2% in the first quarter. Harbour Capital Advisors LLC now owns 14,563 shares of the company’s stock valued at $632,000 after acquiring an additional 3,550 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in JFrog by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 490,402 shares of the company’s stock valued at $21,686,000 after acquiring an additional 3,344 shares during the period. 85.02% of the stock is owned by 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.