JFrog (NASDAQ:FROG) Price Target Raised to $45.00 at Stifel Nicolaus

JFrog (NASDAQ:FROG) had its price target hoisted by analysts at Stifel Nicolaus from $35.00 to $45.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 13.06% from the company’s current price.

Several other analysts have also recently commented on FROG. Barclays lifted their target price on shares of JFrog from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday. Scotiabank boosted their price objective on shares of JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. TD Cowen boosted their price objective on shares of JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC boosted their price objective on shares of JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird boosted their price objective on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.17.

JFrog Stock Performance

NASDAQ:FROG traded up $2.09 during mid-day trading on Friday, reaching $39.80. The stock had a trading volume of 2,894,229 shares, compared to its average volume of 1,066,976. The business has a 50 day simple moving average of $32.62 and a 200 day simple moving average of $30.70. JFrog has a twelve month low of $22.91 and a twelve month high of $48.81. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -75.10 and a beta of 0.97.

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 the consensus estimate of $0.14 by ($0.28). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. As a group, sell-side analysts expect that JFrog will post -0.32 earnings per share for the current year.

Insider Activity at JFrog

In other JFrog news, CRO Tali Notman sold 75,635 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.00, for a total value of $2,647,225.00. Following the completion of the transaction, the executive now owns 582,394 shares in the company, valued at approximately $20,383,790. This represents a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eduard Grabscheid sold 834 shares of the 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 $25,520.40. Following the completion of the transaction, the chief financial officer now owns 97,260 shares of the company’s stock, valued at $2,976,156. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,685 shares of company stock valued at $13,720,965 in the last quarter. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FROG. North Peak Capital Management LLC bought a new position in shares of JFrog in the third quarter valued at approximately $73,417,000. TimesSquare Capital Management LLC lifted 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 purchasing an additional 1,617,551 shares during the last quarter. Norges Bank acquired a new stake in JFrog during the fourth quarter valued at approximately $32,878,000. Massachusetts Financial Services Co. MA acquired a new stake in JFrog during the third quarter valued at approximately $32,401,000. Finally, Raymond James Financial Inc. acquired a new stake in JFrog during the fourth quarter valued at approximately $30,554,000. 85.02% of the stock is currently 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.