JFrog (NASDAQ:FROG) Price Target Raised to $120.00

JFrog (NASDAQ:FROG) had its price target hoisted by JPMorgan Chase & Co. from $115.00 to $120.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $115.00 target price on shares of JFrog in a research note on Wednesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of JFrog in a research note on Thursday, September 3rd. UBS Group set a $115.00 price target on shares of JFrog in a research note on Friday, October 23rd. DA Davidson reiterated a “buy” rating and set a $115.00 price objective on shares of JFrog in a research note on Friday, September 4th. Finally, Guggenheim boosted their price objective on JFrog from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday. Twenty-one analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.43.

JFrog Stock Performance

Shares of FROG opened at $100.98 on Friday. The firm has a market cap of $12.45 billion, a P/E ratio of -561.00 and a beta of 1.31. The stock’s 50 day moving average is $93.42 and its two-hundred day moving average is $72.58. JFrog has a 12 month low of $34.05 and a 12 month high of $105.76.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $179.17 million for the quarter, compared to analysts’ expectations of $165.92 million. JFrog had a negative net margin of 3.29% and a negative return on equity of 1.58%. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Equities research analysts forecast that JFrog will post -0.11 EPS for the current year.

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 120,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $90.86, for a total value of $10,903,200.00. Following the completion of the sale, the director owned 2,984,328 shares in the company, valued at approximately $271,156,042.08. This represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Shlomi Ben Haim sold 45,700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $85.35, for a total transaction of $3,900,495.00. Following the completion of the transaction, the chief executive officer directly owned 4,449,305 shares in the company, valued at $379,748,181.75. This trade represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 900,453 shares of company stock valued at $85,299,266. Corporate insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On JFrog

A number of large investors have recently made changes to their positions in the stock. Congress Asset Management Co. increased its stake in shares of JFrog by 14.4% during the 3rd quarter. Congress Asset Management Co. now owns 1,420,301 shares of the company’s stock worth $137,826,000 after purchasing an additional 178,310 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in JFrog in the 2nd quarter valued at approximately $1,427,000. Wellington Management Group LLP purchased a new stake in JFrog in the 2nd quarter valued at approximately $69,951,000. American Capital Management Inc. purchased a new stake in JFrog in the 2nd quarter valued at approximately $1,225,000. Finally, Sei Investments Co. grew its holdings in JFrog by 169.0% during the 1st quarter. Sei Investments Co. now owns 468,861 shares of the company’s stock valued at $22,004,000 after buying an additional 294,547 shares during the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.