Needham & Company LLC Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

JFrog (NASDAQ:FROG) had its price target boosted by Needham & Company LLC from $33.00 to $36.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 9.56% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. KeyCorp raised their price target on shares of JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Morgan Stanley reduced their target price on JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Barclays lowered their price target on JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Baird R W upgraded JFrog to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Stifel Nicolaus lowered their target price on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Three 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. Based on data from MarketBeat, JFrog has a consensus rating of “Moderate Buy” and an average target price of $37.00.

JFrog Trading Up 3.6 %

NASDAQ FROG opened at $32.86 on Friday. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81. The stock’s fifty day moving average price is $28.97 and its 200-day moving average price is $32.44. The stock has a market cap of $3.35 billion, a P/E ratio of -73.02 and a beta of 0.93.

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

Insider Buying and Selling

In other JFrog news, CEO Ben Haim Shlomi sold 35,550 shares of JFrog stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the transaction, the chief executive officer now owns 4,975,229 shares of the company’s stock, valued at $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other JFrog news, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction 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 $149,256,870. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Tali Notman sold 11,621 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $314,464.26. Following the completion of the transaction, the executive now owns 547,413 shares in the company, valued at $14,812,995.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,031 shares of company stock valued at $3,618,247. 15.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JFrog

Several hedge funds have recently modified their holdings of FROG. TimesSquare Capital Management LLC grew its stake in JFrog by 114.1% during the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock valued at $88,133,000 after acquiring an additional 1,617,551 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of JFrog by 285.1% during the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock valued at $62,885,000 after purchasing an additional 1,052,800 shares in the last quarter. Meitav Investment House Ltd. increased its holdings in shares of JFrog by 4,244.7% in the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock worth $32,903,000 after purchasing an additional 856,451 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of JFrog by 172.5% in the second quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock worth $49,943,000 after purchasing an additional 841,956 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of JFrog in the second quarter worth about $30,098,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

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.