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

JFrog (NASDAQ:FROG) had its target price lifted by Needham & Company LLC from $36.00 to $39.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on FROG. DA Davidson restated a “buy” rating and set a $40.00 target price on shares of JFrog in a research note on Monday, October 14th. Scotiabank increased their target price 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. Barclays cut their price target on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 target price on shares of JFrog in a research note on Tuesday, October 29th. Finally, Robert W. Baird raised their target price on JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.89.

JFrog Trading Up 1.1 %

FROG opened at $34.30 on Wednesday. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -64.72 and a beta of 0.95. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81. The stock has a fifty day moving average price of $31.08 and a 200 day moving average price of $30.79.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.24). The business had revenue of $109.06 million for the quarter, compared to the consensus estimate of $105.54 million. JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. During the same quarter in the prior year, the business posted ($0.10) EPS. As a group, sell-side analysts forecast that JFrog will post -0.32 earnings per share for the current fiscal year.

Insider Activity at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $30.86, for a total value of $1,080,100.00. Following the completion of the transaction, the director now directly owns 4,514,432 shares of the company’s stock, valued at approximately $139,315,371.52. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yossi Sela sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $31.86, for a total transaction of $796,500.00. Following the completion of the sale, the director now directly owns 355,129 shares of the company’s stock, valued at approximately $11,314,409.94. This represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,146 shares of company stock valued at $8,544,054 in the last three months. Corporate insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

Several hedge funds and other institutional investors have recently made changes to their positions in FROG. North Peak Capital Management LLC acquired a new position in JFrog during the 3rd quarter valued at about $73,417,000. TimesSquare Capital Management LLC grew its stake in shares of JFrog by 114.1% during the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in JFrog in the third quarter valued at about $32,401,000. Thrivent Financial for Lutherans lifted its stake in JFrog by 33.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after buying an additional 593,478 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of JFrog by 55.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock worth $41,757,000 after buying an additional 514,895 shares during the period. 85.02% of the stock is owned by institutional investors and hedge funds.

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.