Needham & Company LLC Reiterates “Buy” Rating for JFrog (NASDAQ:FROG)

JFrog (NASDAQ:FROG)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $45.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 25.66% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald lifted their price objective on JFrog from $40.00 to $45.00 in a research note on Thursday, March 7th. Bank Of America (Bofa) lifted their target price on JFrog from $36.00 to $54.00 in a report on Thursday, March 7th. KeyCorp reduced their target price on JFrog from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Scotiabank reduced their target price on JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, May 10th. Finally, UBS Group started coverage on JFrog in a report on Wednesday, May 22nd. They issued a “buy” rating and a $41.00 target price for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.93.

JFrog Stock Up 2.9 %

FROG opened at $35.81 on Tuesday. The stock has a market cap of $3.65 billion, a PE ratio of -76.19 and a beta of 0.93. The business has a 50 day moving average of $35.30 and a 200-day moving average of $37.14. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. Equities analysts anticipate that JFrog will post -0.21 EPS for the current year.

Insider Activity

In other news, CEO Ben Haim Shlomi sold 57,550 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares in the company, valued at $163,154,559.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Tali Notman sold 6,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $42.60, for a total value of $255,600.00. Following the sale, the executive now directly owns 522,348 shares in the company, valued at $22,252,024.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ben Haim Shlomi sold 57,550 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the completion of the sale, the chief executive officer now owns 5,048,099 shares in the company, valued at $163,154,559.68. The disclosure for this sale can be found here. Insiders have sold 240,648 shares of company stock worth $8,419,115 over the last ninety days. Corporate insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

Large investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in JFrog during the first quarter worth approximately $26,000. Fred Alger Management LLC bought a new position in shares of JFrog during the third quarter valued at approximately $35,000. Frazier Financial Advisors LLC bought a new position in shares of JFrog during the fourth quarter valued at approximately $35,000. Future Financial Wealth Managment LLC bought a new position in JFrog in the first quarter worth approximately $44,000. Finally, Advisors Asset Management Inc. grew its stake in JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after purchasing an additional 662 shares in the last quarter. 85.02% of the stock is owned by 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.