JFrog (NASDAQ:FROG) Receives “Buy” Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of JFrog (NASDAQ:FROG) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $40.00 price target on the stock.

A number of other research analysts also recently commented on the company. Robert W. Baird assumed coverage on JFrog in a research note on Tuesday, August 27th. They issued an outperform rating and a $32.00 price target for the company. Stifel Nicolaus dropped their price target on JFrog from $45.00 to $30.00 and set a buy rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group dropped their price target on JFrog from $48.00 to $38.00 and set a buy rating for the company in a research note on Thursday, August 8th. FBN Securities initiated coverage on JFrog in a research note on Wednesday, May 22nd. They set an outperform rating and a $45.00 target price for the company. Finally, Scotiabank lowered their target price on JFrog from $40.00 to $25.00 and set a sector perform rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $36.17.

JFrog Stock Performance

Shares of JFrog stock opened at $27.74 on Wednesday. The firm has a 50-day moving average of $31.90 and a 200-day moving average of $36.12. The stock has a market cap of $2.83 billion, a PE ratio of -59.02 and a beta of 0.94. JFrog has a 52-week low of $21.38 and a 52-week high of $48.81.

JFrog (NASDAQ:FROG) last announced its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business 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%. Equities research analysts predict that JFrog will post -0.28 earnings per share for the current fiscal year.

Insider Activity at JFrog

In related news, CTO Yoav Landman sold 16,277 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $36.66, for a total value of $596,714.82. Following the sale, the chief technology officer now directly owns 6,697,242 shares in the company, valued at $245,520,891.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Yoav Landman sold 16,277 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $36.66, for a total value of $596,714.82. Following the sale, the chief technology officer now directly owns 6,697,242 shares in the company, valued at $245,520,891.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the sale, the chief executive officer now owns 5,027,493 shares in the company, valued at $136,043,960.58. The disclosure for this sale can be found here. Insiders have sold 203,040 shares of company stock worth $6,818,795 over the last ninety days. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of JFrog by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after buying an additional 523,432 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of JFrog by 22.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after buying an additional 561,897 shares in the last quarter. Praesidium Investment Management Company LLC boosted its holdings in shares of JFrog by 6.5% during the 4th quarter. Praesidium Investment Management Company LLC now owns 1,943,381 shares of the company’s stock worth $67,260,000 after buying an additional 118,473 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of JFrog by 4.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock worth $76,160,000 after buying an additional 73,036 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of JFrog by 17.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock worth $62,904,000 after buying an additional 254,100 shares in the last quarter. 85.02% of the stock is currently owned by institutional investors.

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.