Needham & Company LLC Forecasts Strong Price Appreciation for JFrog (NASDAQ:FROG) Stock

JFrog (NASDAQ:FROG) had its target price lifted by equities researchers at Needham & Company LLC from $33.00 to $36.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 15.76% from the company’s previous close.

Several other analysts have also recently weighed in on the company. KeyCorp raised their price target on JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Scotiabank cut their price target on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus lowered their price objective on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Barclays reduced their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group cut their price objective on JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.83.

JFrog Stock Performance

NASDAQ FROG traded down $1.76 during trading hours on Friday, hitting $31.10. The company had a trading volume of 2,392,968 shares, compared to its average volume of 1,067,334. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -69.11 and a beta of 0.93. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81. The firm has a 50 day simple moving average of $29.14 and a 200 day simple moving average of $32.35.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 net margin of 12.35% and a negative return on equity of 4.63%. On average, research analysts forecast that JFrog will post -0.28 earnings per share for the current year.

Insider Activity

In other JFrog news, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total transaction of $557,598.36. Following the transaction, the chief executive officer now owns 5,027,493 shares in the company, valued at approximately $136,043,960.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ben Haim Shlomi sold 20,606 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total transaction of $557,598.36. Following the sale, the chief executive officer now owns 5,027,493 shares in the company, valued at approximately $136,043,960.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the transaction, the chief technology officer now owns 6,627,242 shares of the company’s stock, valued at approximately $185,562,776. 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 90 days, insiders have sold 126,031 shares of company stock valued at $3,618,247. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of JFrog

Several hedge funds and other institutional investors have recently made changes to their positions in FROG. Connor Clark & Lunn Investment Management Ltd. boosted its stake in JFrog by 1,277.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 231,762 shares of the company’s stock worth $6,730,000 after purchasing an additional 214,935 shares in the last quarter. Wrapmanager Inc. lifted its stake in shares of JFrog by 13.5% in the third quarter. Wrapmanager Inc. now owns 9,769 shares of the company’s stock worth $284,000 after buying an additional 1,161 shares in the last quarter. George Kaiser Family Foundation grew its holdings in shares of JFrog by 37.1% during the third quarter. George Kaiser Family Foundation now owns 102,858 shares of the company’s stock valued at $2,987,000 after buying an additional 27,821 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of JFrog by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after acquiring an additional 593,478 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in JFrog by 30.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock worth $25,963,000 after acquiring an additional 210,000 shares during the last quarter. 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.