JFrog’s (FROG) Buy Rating Reaffirmed at DA Davidson

DA Davidson restated their buy rating on shares of JFrog (NASDAQ:FROG) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

FROG has been the subject of a number of other research reports. TD Cowen dropped their price objective on JFrog from $50.00 to $32.00 and set a buy rating for the company in a report on Thursday, August 8th. Robert W. Baird began coverage on JFrog in a report on Tuesday, August 27th. They set an outperform rating and a $32.00 price objective for the company. Bank of America decreased their target price on JFrog from $54.00 to $44.00 and set a buy rating for the company in a research report on Thursday, August 8th. KeyCorp lifted their target price on JFrog from $30.00 to $32.00 and gave the company an overweight rating in a research report on Thursday, September 12th. Finally, Scotiabank decreased their target price on JFrog from $40.00 to $25.00 and set a sector perform rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, JFrog has a consensus rating of Moderate Buy and an average price target of $36.28.

JFrog Stock Performance

Shares of JFrog stock opened at $31.46 on Monday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -66.94 and a beta of 0.94. The stock has a 50 day moving average price of $28.04 and a 200-day moving average price of $33.66. JFrog has a one year low of $21.38 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data 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). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The business had revenue of $103.04 million for the quarter, compared to analysts’ expectations of $103.53 million. Sell-side analysts predict that JFrog will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the transaction, the chief technology officer now directly owns 6,642,242 shares in the company, valued at $170,572,774.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ben Haim Shlomi sold 20,606 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total transaction of $557,598.36. Following the transaction, the chief executive officer now directly owns 5,027,493 shares in the company, valued at $136,043,960.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.68, for a total value of $385,200.00. Following the transaction, the chief technology officer now owns 6,642,242 shares in the company, valued at approximately $170,572,774.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,481 shares of company stock worth $4,930,847 in the last ninety days. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FROG. Future Financial Wealth Managment LLC purchased a new position in JFrog during the 3rd quarter worth $29,000. Advisors Asset Management Inc. grew its stake in JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in JFrog during the 1st quarter valued at about $140,000. SG Americas Securities LLC purchased a new stake in JFrog during the 2nd quarter valued at about $187,000. Finally, Sanctuary Advisors LLC purchased a new stake in JFrog during the 2nd quarter valued at about $188,000. 85.02% of the stock is currently owned by hedge funds and other 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.