JFrog (NASDAQ:FROG) Upgraded to Moderate Buy at Raymond James

Raymond James upgraded shares of JFrog (NASDAQ:FROG) to a moderate buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other brokerages have also issued reports on FROG. Needham & Company LLC increased their target price on JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 14th. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price objective (up from $36.00) on shares of JFrog in a report on Friday, February 14th. Canaccord Genuity Group boosted their target price on shares of JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Morgan Stanley raised their price target on shares of JFrog from $36.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Truist Financial boosted their price objective on JFrog from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

JFrog Stock Performance

FROG opened at $31.01 on Thursday. The company has a fifty day moving average of $34.59 and a two-hundred day moving average of $32.28. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -49.22 and a beta of 0.98. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $43.00.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.28). The business had revenue of $116.08 million during the quarter, compared to analysts’ expectations of $114.16 million. JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. On average, equities research analysts forecast that JFrog will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $31.78, for a total value of $1,112,300.00. Following the transaction, the director now directly owns 4,444,432 shares in the company, valued at approximately $141,244,048.96. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yossi Sela sold 14,300 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.52, for a total value of $579,436.00. Following the sale, the director now directly owns 306,277 shares of the company’s stock, valued at approximately $12,410,344.04. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,104 shares of company stock valued at $15,587,729 in the last three months. 15.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of JFrog during the fourth quarter worth $32,878,000. Raymond James Financial Inc. purchased a new position in JFrog during the 4th quarter valued at about $30,554,000. Mackenzie Financial Corp grew its position in JFrog by 93.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company’s stock valued at $58,703,000 after acquiring an additional 965,912 shares in the last quarter. Champlain Investment Partners LLC grew its position in JFrog by 48.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock valued at $71,961,000 after acquiring an additional 797,949 shares in the last quarter. Finally, Bamco Inc. NY purchased a new stake in JFrog during the fourth quarter worth about $21,322,000. 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.