JFrog (NASDAQ:FROG) Price Target Raised to $39.00 at Needham & Company LLC

JFrog (NASDAQ:FROG) had its price objective hoisted by stock analysts at Needham & Company LLC from $36.00 to $39.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 14.98% from the company’s current price.

FROG has been the subject of a number of other research reports. Barclays reduced their price objective on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Robert W. Baird boosted their price target on JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Scotiabank lifted their target price on JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. TD Cowen upped their price target on shares of JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, DA Davidson reiterated a “buy” rating and issued a $40.00 price objective on shares of JFrog in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.89.

JFrog Stock Up 3.6 %

NASDAQ:FROG opened at $33.92 on Wednesday. JFrog has a 12-month low of $22.91 and a 12-month high of $48.81. The stock’s 50 day moving average price is $31.08 and its two-hundred day moving average price is $30.79. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -64.00 and a beta of 0.95.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.24). The company had revenue of $109.06 million during the quarter, compared to analyst estimates of $105.54 million. JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts expect that JFrog will post -0.32 EPS for the current year.

Insider Buying and Selling

In related news, CFO Eduard Grabscheid sold 834 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $30.60, for a total value of $25,520.40. Following the completion of the transaction, the chief financial officer now owns 97,260 shares of the company’s stock, valued at $2,976,156. This represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Tali Notman sold 10,791 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.03, for a total transaction of $334,844.73. Following the sale, the executive now directly owns 514,394 shares in the company, valued at approximately $15,961,645.82. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,146 shares of company stock worth $8,544,054 in the last ninety days. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On JFrog

Several large investors have recently bought and sold shares of the company. North Peak Capital Management LLC acquired a new position in shares of JFrog in the third quarter valued at approximately $73,417,000. TimesSquare Capital Management LLC increased its position in JFrog by 114.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock valued at $88,133,000 after acquiring an additional 1,617,551 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in JFrog in the 3rd quarter valued at approximately $32,401,000. Thrivent Financial for Lutherans lifted its holdings in shares of JFrog by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock worth $68,969,000 after purchasing an additional 593,478 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of JFrog by 55.8% during the third quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock worth $41,757,000 after purchasing an additional 514,895 shares during the period. 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.