Truist Financial Reaffirms Buy Rating for JFrog (NASDAQ:FROG)

JFrog (NASDAQ:FROG)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a report released on Friday,Benzinga reports. They currently have a $35.00 price objective on the stock, up from their prior price objective of $33.00. Truist Financial’s price objective points to a potential upside of 12.54% from the company’s current price.

FROG has been the topic of several other research reports. Piper Sandler cut their price target on JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Barclays cut their price target on shares of JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. UBS Group decreased their price objective on shares of JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Stifel Nicolaus cut their target price on JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen upped their price target on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 28th. Three investment 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. Based on data from MarketBeat, JFrog has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.

JFrog Stock Down 5.4 %

Shares of FROG traded down $1.76 during mid-day trading on Friday, hitting $31.10. 2,392,968 shares of the company’s stock traded hands, compared to its average volume of 1,067,334. The firm has a market capitalization of $3.17 billion, a P/E ratio of -69.11 and a beta of 0.93. The business’s 50-day moving average price is $29.14 and its 200-day moving average price is $32.35. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last released its earnings results on Wednesday, August 7th. The company reported ($0.09) 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 firm had revenue of $103.04 million during the quarter, compared to analysts’ expectations of $103.53 million. Sell-side analysts anticipate that JFrog will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ben Haim Shlomi sold 20,606 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at approximately $136,043,960.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other JFrog news, CEO Ben Haim Shlomi sold 20,606 shares of JFrog stock in a transaction 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 transaction, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $28.00, for a total transaction of $420,000.00. Following the completion of the sale, the chief technology officer now owns 6,627,242 shares in the company, valued at approximately $185,562,776. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,031 shares of company stock worth $3,618,247 over the last 90 days. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

A number of large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in JFrog by 1,277.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 231,762 shares of the company’s stock valued at $6,730,000 after acquiring an additional 214,935 shares during the period. Wrapmanager Inc. boosted its stake in shares of JFrog by 13.5% during the third quarter. Wrapmanager Inc. now owns 9,769 shares of the company’s stock valued at $284,000 after purchasing an additional 1,161 shares during the period. George Kaiser Family Foundation grew its holdings in shares of JFrog by 37.1% in the third quarter. George Kaiser Family Foundation now owns 102,858 shares of the company’s stock worth $2,987,000 after purchasing an additional 27,821 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in JFrog by 33.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock worth $68,969,000 after buying an additional 593,478 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in JFrog by 30.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock valued at $25,963,000 after buying an additional 210,000 shares in the last quarter. 85.02% of the stock is 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.