JFrog (NASDAQ:FROG) Price Target Lowered to $40.00 at DA Davidson

JFrog (NASDAQ:FROG) had its target price reduced by DA Davidson from $50.00 to $40.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Barclays lifted their price target on JFrog from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Canaccord Genuity Group lifted their target price on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Needham & Company LLC upped 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. Raymond James started coverage on shares of JFrog in a research report on Friday. They set an “outperform” rating and a $40.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

JFrog Stock Performance

JFrog stock opened at $31.26 on Monday. JFrog has a one year low of $22.91 and a one year high of $43.00. The stock has a market cap of $3.58 billion, a PE ratio of -49.62 and a beta of 0.98. The stock has a 50-day moving average of $34.49 and a two-hundred day moving average of $32.31.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The company had revenue of $116.08 million for the quarter, compared to analyst estimates of $114.16 million. As a group, sell-side analysts predict that JFrog will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $35.92, for a total value of $1,257,200.00. Following the sale, the director now owns 4,409,432 shares in the company, valued at $158,386,797.44. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Yoav Landman sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $30.45, for a total transaction of $609,000.00. Following the transaction, the chief technology officer now owns 6,436,901 shares of the company’s stock, valued at approximately $196,003,635.45. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 429,104 shares of company stock valued at $15,084,429. 15.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On JFrog

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of JFrog by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company’s stock valued at $259,882,000 after acquiring an additional 349,532 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in JFrog by 12.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after purchasing an additional 365,376 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in JFrog by 48.4% during the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock worth $71,961,000 after purchasing an additional 797,949 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of JFrog by 3.3% during the fourth quarter. Wasatch Advisors LP now owns 2,211,088 shares of the company’s stock worth $65,028,000 after buying an additional 70,204 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of JFrog by 93.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company’s stock valued at $58,703,000 after buying an additional 965,912 shares during the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

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.