JFrog Ltd. (NASDAQ:FROG) Receives $41.44 Consensus Price Target from Analysts

Shares of JFrog Ltd. (NASDAQ:FROGGet Free Report) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.44.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of JFrog from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, May 9th. DA Davidson increased their target price on shares of JFrog from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $46.00 price target on shares of JFrog in a research report on Monday, May 5th. Wall Street Zen upgraded JFrog from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, Scotiabank dropped their price objective on JFrog from $40.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th.

Read Our Latest Report on FROG

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 54,279 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $43.07, for a total transaction of $2,337,796.53. Following the transaction, the chief executive officer now owns 4,996,412 shares of the company’s stock, valued at approximately $215,195,464.84. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Tali Notman sold 23,157 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $43.16, for a total transaction of $999,456.12. Following the sale, the executive now owns 686,360 shares in the company, valued at approximately $29,623,297.60. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,113 shares of company stock valued at $8,568,964 over the last quarter. Insiders own 14.10% of the company’s stock.

Institutional Investors Weigh In On JFrog

A number of hedge funds and other institutional investors have recently made changes to their positions in FROG. Alliancebernstein L.P. lifted its position in JFrog by 1,974.0% during the first quarter. Alliancebernstein L.P. now owns 2,151,008 shares of the company’s stock worth $68,832,000 after buying an additional 2,047,294 shares during the period. Eminence Capital LP acquired a new position in shares of JFrog during the 1st quarter valued at about $43,268,000. Norges Bank purchased a new position in shares of JFrog during the 4th quarter worth about $32,878,000. Raymond James Financial Inc. purchased a new position in shares of JFrog during the 4th quarter worth about $30,554,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of JFrog by 65.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,630,179 shares of the company’s stock worth $84,166,000 after acquiring an additional 1,037,482 shares during the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Price Performance

Shares of NASDAQ FROG opened at $41.53 on Monday. The company has a market cap of $4.76 billion, a PE ratio of -58.49 and a beta of 1.07. The stock has a fifty day moving average price of $38.31 and a 200 day moving average price of $35.06. JFrog has a 1-year low of $22.91 and a 1-year high of $45.10.

JFrog (NASDAQ:FROGGet Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. JFrog had a negative return on equity of 7.24% and a negative net margin of 17.52%. The company had revenue of $122.41 million for the quarter, compared to analysts’ expectations of $117.44 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. Analysts anticipate that JFrog will post -0.33 earnings per share for the current fiscal year.

About JFrog

(Get Free Report

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.

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Analyst Recommendations for JFrog (NASDAQ:FROG)

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