Cantor Fitzgerald Reaffirms Overweight Rating for JFrog (NASDAQ:FROG)

JFrog (NASDAQ:FROG)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They presently have a $35.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 25.45% from the company’s previous close.

A number of other brokerages have also recently issued reports on FROG. Truist Financial decreased their price objective on shares of JFrog from $50.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Robert W. Baird began coverage on shares of JFrog in a report on Tuesday, August 27th. They issued an “outperform” rating and a $32.00 price target for the company. Morgan Stanley lowered their price objective on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their target price on JFrog from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group lowered their price target on JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.28.

JFrog Stock Up 0.6 %

NASDAQ:FROG opened at $27.90 on Wednesday. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The stock’s fifty day simple moving average is $31.74 and its 200-day simple moving average is $36.06. The firm has a market capitalization of $2.84 billion, a P/E ratio of -59.36 and a beta of 0.94.

JFrog (NASDAQ:FROG) last released its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. As a group, equities research analysts expect that JFrog will post -0.28 earnings per share for the current year.

Insider Buying and Selling at JFrog

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

Institutional Trading of JFrog

Institutional investors and hedge funds have recently bought and sold shares of the business. 1832 Asset Management L.P. raised its stake in JFrog by 285.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock valued at $62,885,000 after acquiring an additional 1,052,800 shares during the period. Meitav Investment House Ltd. raised its position in shares of JFrog by 4,244.7% in the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after purchasing an additional 856,451 shares during the period. American Century Companies Inc. lifted its stake in shares of JFrog by 172.5% during the 2nd quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock worth $49,943,000 after buying an additional 841,956 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of JFrog during the 1st quarter worth about $35,520,000. Finally, Ensign Peak Advisors Inc bought a new position in JFrog in the 2nd quarter valued at about $30,098,000. 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.