Truist Financial Increases JFrog (NASDAQ:FROG) Price Target to $45.00

JFrog (NASDAQ:FROG) had its target price raised by Truist Financial from $35.00 to $45.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 12.95% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price target on shares of JFrog from $38.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird lifted their price target on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group lifted their price target on shares of JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC lifted their price target on shares of JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $38.00 target price on shares of JFrog in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.56.

JFrog Stock Up 5.7 %

Shares of NASDAQ:FROG traded up $2.13 on Friday, hitting $39.84. The company had a trading volume of 2,252,778 shares, compared to its average volume of 1,050,563. The firm’s 50-day simple moving average is $32.62 and its two-hundred day simple moving average is $30.70. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -75.19 and a beta of 0.97.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results 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 net margin of 13.98% and a negative return on equity of 5.36%. Equities research analysts anticipate that JFrog will post -0.32 EPS for the current year.

Insider Transactions at JFrog

In related news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $35.92, for a total transaction of $1,257,200.00. Following the completion of the sale, the director now directly owns 4,409,432 shares in the company, valued at approximately $158,386,797.44. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ben Haim Shlomi sold 20,443 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $30.60, for a total transaction of $625,555.80. Following the sale, the chief executive officer now owns 4,937,011 shares of the company’s stock, valued at $151,072,536.60. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,685 shares of company stock worth $13,720,965 over the last three months. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of JFrog

Large investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. grew its position in JFrog by 30.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock valued at $25,963,000 after buying an additional 210,000 shares during the period. abrdn plc grew its position in JFrog by 4.1% during the fourth quarter. abrdn plc now owns 772,202 shares of the company’s stock valued at $22,784,000 after buying an additional 30,392 shares during the period. JPMorgan Chase & Co. lifted its holdings in JFrog by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock valued at $43,817,000 after purchasing an additional 159,483 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in JFrog by 55.8% during the third quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after purchasing an additional 514,895 shares in the last quarter. Finally, North Peak Capital Management LLC purchased a new position in JFrog during the third quarter valued at approximately $73,417,000. 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.